The Transport Guy: Fitbit discloses that it bought smartwatch startup Pebble for $23 million (FIT)

Steve Kovach February 22, 2017 at 02:02PM

Fitbit finally disclosed Wednesday that it paid $23 million to acquire assets from beleaguered smartwatch startup Pebble.

The sale price was a secret until now, and was listed in Fitbit's earnings release. When the deal was formally announced late last year, neither company would disclose how much the deal was worth. 

After the sale, Fitbit shut down Pebble and only offered jobs to about 40% of the staff, mostly those working on Pebble's software. Everyone else was laid off.

Fitbit also disclosed Wednesday that it paid $15 million for Vector Watch, another smartwatch company.

SEE ALSO: How smartwatch pioneer Pebble lost everything

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Fitbit discloses that it bought smartwatch startup Pebble for $23 million (FIT) from Business Insider: Steve Kovach