Google completes Fitbit acquisition for $2.1 bn amid antitrust concerns
Google has completed its USD 2.1 billion acquisition of fitness-gadget maker Fitbit, a deal that could help the internet company grow even stronger while US government regulators pursue an antitrust case aimed at undermining its power. Thursday's completion of the acquisition comes 14 months after Google announced a deal that immediately raised alarms. Google makes most of its money by selling ads based on information it collects about its billions of users' interests and whereabouts. Privacy watchdogs feared it might exploit Fitbit to peer even deeper into people's lives. But Google wound up entering a series of commitments in Europe and other parts of the world pledging it won't use the health and fitness data from Fitbit's 29 million users to sell more ads. It insists it is more interested in adding Fitbit to its expanding arsenal of internet-connected products, which include smartphones, laptops, speakers, cameras and thermostats. Read More