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Fitbit reportedly tried to acquire Jawbone last month

By Cookie Monster - on 15 Jan 2017, 4:00pm

Fitbit reportedly tried to acquire Jawbone last month

Fitbit could have acquired another wearable firm, Jawbone last month.

Sources told the Financial Times that Fitbit approached Jawbone in December 2016 with an interest to acquire its assets including the intellectual property. However, talks between the two companies failed quickly after Fitbit offered only "a tiny faction" of the US$1.6 billion that Jawbone was valued at in early 2016. 

Both companies were engaged in legal lawsuits since 2015. Jawbone sued Fitbit in May 2015 for "systematically plundering" confidential information by poaching its employees. Fitbit fought back with patent infringement lawsuits against Jawbone. Even though it did not manage to acquire Jawbone, Fitbit managed to purchase Pebble and European smartwatch startup Vector in the past two months. 

Source: Financial Times via AppleInsider 

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