Fitbit made news recently when it was announced that Google would be purchasing the wearables firm. According to CNBC, it appears Facebook was also interested and “bid several times to acquire” the company.
An SEC filing referred to “Party A,” a previously unidentified third party who made several bids to buy Fitbit.
“According to the filing, Fitbit CEO James Park had dinner with ‘the chief executive officer of Party A’ on June 11, 2019 to discuss the wearables technology landscape. That person would be Facebook CEO Mark Zuckerberg, sources said. Park and other members of Fitbit’s senior management had dinner with Zuckerberg again on July 2, the filing said. Zuckerberg and Park met once more in September, according to the filing.”
Evidently Facebook’s best offer, one they would not budge from, was $7.30 a share. A day after Facebook made its final offer, Fitbit signed an exclusivity deal with Google for $7.35 a share.
While some users have understandably been concerned about privacy in the wake of the announcement Google was purchasing Fitbit, it’s probably a safe bet that far more users would be concerned if Facebook was the buyer.
The post Filings Reveal There Was a Bidding War Over Fitbit appeared first on WebProNews.
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