Google’s parent company Alphabet is reportedly in talks to buy wearable device firm Fitbit.
The acquisition would allow the US technology giant to enter a crowded market for fitness trackers and smartwatches, which rivals like Apple and Samsung have been developing in recent years.
There is no certainty that the negotiations will lead to any deal, sources told the Reuters press agency, speaking on condition of anonymity. They did not reveal what sort of amounts were being offered.
Both Google and Fitbit declined to comment.
But Fitbit shares rose 27 per cent after news of the potential sale emerged, giving the company a market capitalisation of $1.4bn. Alphabet shares rose 2 per cent to $1,293.49.
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A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
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12/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
13/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
14/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
15/25
The giant human-like robot bears a striking resemblance to the military robots starring in the movie ‘Avatar’ and is claimed as a world first by its creators from a South Korean robotic company
Jung Yeon-Je/AFP/Getty
16/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
17/25
Waseda University’s saxophonist robot WAS-5, developed by professor Atsuo Takanishi
Rex
18/25
Waseda University’s saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session
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19/25
A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China
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20/25
A test line of a new energy suspension railway, resembling a giant panda, is seen in Chengdu, Sichuan Province, China
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21/25
A concept car by Trumpchi from GAC Group is shown at the International Automobile Exhibition in Guangzhou, China
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22/25
A Mirai fuel cell vehicle by Toyota is displayed at the International Automobile Exhibition in Guangzhou, China
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A visitor tries a Nissan VR experience at the International Automobile Exhibition in Guangzhou, China
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24/25
A man looks at an exhibit entitled ‘Mimus’ a giant industrial robot which has been reprogrammed to interact with humans during a photocall at the new Design Museum in South Kensington, London
Getty
25/25
A new Israeli Da-Vinci unmanned aerial vehicle manufactured by Elbit Systems is displayed during the 4th International conference on Home Land Security and Cyber in the Israeli coastal city of Tel Aviv
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1/25 Google turns 21
Google celebrates its 21st birthday on September 27. The The search engine was founded in September 1998 by two PhD students, Larry Page and Sergey Brin, in their dormitories at California’s Stanford University. Page and Brin chose the name google as it recalled the mathematic term ‘googol’, meaning 10 raised to the power of 100
2/25 Gun-toting humanoid robot sent into space
Russia has launched a humanoid robot into space on a rocket bound for the International Space Station (ISS). The robot Fedor will spend 10 days aboard the ISS practising skills such as using tools to fix issues onboard. Russia’s deputy prime minister Dmitry Rogozin has previously shared videos of Fedor handling and shooting guns at a firing range with deadly accuracy.
Dmitry Rogozin/Twitter
3/25 Hexa drone lifts off
Chief engineer of LIFT aircraft Balazs Kerulo demonstrates the company’s “Hexa” personal drone craft in Lago Vista, Texas on June 3 2019
Reuters
4/25 Project Scarlett to succeed Xbox One
Microsoft announced Project Scarlett, the successor to the Xbox One, at E3 2019. The company said that the new console will be 4 times as powerful as the Xbox One and is slated for a release date of Christmas 2020
Getty
5/25 First new iPod in four years
Apple has announced the new iPod Touch, the first new iPod in four years. The device will have the option of adding more storage, up to 256GB
Apple
6/25 Folding phone may flop
Samsung will cancel orders of its Galaxy Fold phone at the end of May if the phone is not then ready for sale. The $2000 folding phone has been found to break easily with review copies being recalled after backlash
PA
7/25 Charging mat non-starter
Apple has cancelled its AirPower wireless charging mat, which was slated as a way to charge numerous apple products at once
AFP/Getty
8/25 “Super league” India shoots down satellite
India has claimed status as part of a “super league” of nations after shooting down a live satellite in a test of new missile technology
EPA
9/25 5G incoming
5G wireless internet is expected to launch in 2019, with the potential to reach speeds of 50mb/s
Getty
10/25 Uber halts driverless testing after death
Uber has halted testing of driverless vehicles after a woman was killed by one of their cars in Tempe, Arizona. March 19 2018
Getty
11/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
12/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
13/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
14/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
15/25
The giant human-like robot bears a striking resemblance to the military robots starring in the movie ‘Avatar’ and is claimed as a world first by its creators from a South Korean robotic company
Jung Yeon-Je/AFP/Getty
16/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
17/25
Waseda University’s saxophonist robot WAS-5, developed by professor Atsuo Takanishi
Rex
18/25
Waseda University’s saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session
Rex
19/25
A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China
Reuters
20/25
A test line of a new energy suspension railway, resembling a giant panda, is seen in Chengdu, Sichuan Province, China
Reuters
21/25
A concept car by Trumpchi from GAC Group is shown at the International Automobile Exhibition in Guangzhou, China
Rex
22/25
A Mirai fuel cell vehicle by Toyota is displayed at the International Automobile Exhibition in Guangzhou, China
Reuters
23/25
A visitor tries a Nissan VR experience at the International Automobile Exhibition in Guangzhou, China
Reuters
24/25
A man looks at an exhibit entitled ‘Mimus’ a giant industrial robot which has been reprogrammed to interact with humans during a photocall at the new Design Museum in South Kensington, London
Getty
25/25
A new Israeli Da-Vinci unmanned aerial vehicle manufactured by Elbit Systems is displayed during the 4th International conference on Home Land Security and Cyber in the Israeli coastal city of Tel Aviv
Getty
A deal would come as Fitbit’s dominant share of the fitness tracking sector continues to be chipped away at by cheaper offerings from companies such as China’s Huawei and Xiaomi.
Fitbit’s fitness trackers monitor users’ daily steps, calories burned and distance travelled. They also measure floors climbed, sleep duration and quality, and heart rate.
The company has been partnering with health insurers and has been making tuck-in acquisitions in the healthcare market, as part of efforts to diversify its revenue stream.
Analysts have said that much of the company’s value may now lie in its health data.
The firm cut its 2019 revenue forecast in July, blaming disappointing sales of its newly launched cheapest smartwatch Versa Lite.
In August, Fitbit said it had signed a contract with the Singapore government to provide fitness trackers and services in a health program it said could reach up to 1 million users.
Additional reporting from agencies
