Fortune July 2, 2020
Growing concerns about the power of big tech companies probably won’t be enough to derail Google’s planned $2 billion acquisition of Fitbit, antitrust experts say. That’s despite increasing scrutiny from European regulators and a recent complaint about the deal from 20 consumer and online groups.
Google announced last November its intention to grab the struggling maker of eponymous activity-tracking bands and smartwatches. Fitbit once dominated the market for so-called smart wearables, but an onslaught from Apple at the high end and Chinese rivals like Xiaomi at the low end decimated its business. The $2 billion acquisition price was a fraction of Fitbit’s stock market value when it went public in 2015. At the same time, Google’s own wearable platform has...
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