Fitbit (NYSE:FIT) will be acquired by Google (GOOG,GOOGL) in a deal that values FIT at a fully diluted equity value of approximately $2.1B.
The transaction is expected to close in 2020, subject to stockholder and regulatory approvals.
FIT shares were halted ahead of the announcement.
The $7.35 per share price is just shy of a 20% premium to last night’s close, and about double the price FIT was trading at prior to the rumors of a buyout.
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