MICHELLE CHAPMAN and MATT O'BRIEN
AP Business Writers
Fitbit is being acquired by Google for about $2.1 billion, a deal that enables the internet company to step back into the hotly contested market for smartwatches and health trackers.
Fitbit is a pioneer in wearable fitness technology, but it's been shredded by that competition. Google, meanwhile, has been developing Wear OS software for other manufacturers to build wearable devices, but they haven't gained much traction in the face of competition from Fitbit, Apple, Samsung, and others.
The deal to buy Fitbit could give Google a needed boost.
"Google doesn't want to be left out of the party," said analyst Daniel Ives of Wedbush Securities. "If you look at what Apple has done with wearables, it's a missing piece of the puzzle for G