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Google parent Alphabet makes offer to buy Fitbit, sending stock soaring

The deal would make Alphabet a player in the wearable fitness tracking space, competing against the likes of Apple, which recently released a new version of its popular smartwatch.

Buying Fitbit could be a play to make Google services a greater part of customers' lives and measure up to Apple in the health and fitness space.

In its July earnings release, Fitbit lowered its guidance for the year, citing weaker-than-expected sales of its new lightweight watch.

Original article
Author: Cnbc

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