Fitbit paid $23 million for Pebble acquisition

Fitbit paid $23 million for the acquisition of Pebble at the end of last year. This is evident from the manufacturer’s quarterly figures. At the time of the acquisition, the acquisition amount was not disclosed. Fitbit delivered 22.3 million wearables last year.

The quarterly figures also show that Fitbit has paid an amount of 15 million dollars for the acquisition of smartwatch maker Vector. That transaction took place in January this year. In the last three months of 2016, Fitbit shipped 6.5 million fitness trackers. Less than the 8.2 million sold a year earlier in the same period.

The quarterly turnover amounted to 574 million dollars, converted about 543 million euros. A year earlier, that was $711 million. Fitbit closed the quarter with a loss of $164 million, compared to $64 million in profit in the same period last year.

Over the year, Fitbit saw its sales grow, especially in Europe, where sales rose 58 percent. Nearly all of the company’s revenue came from sales of the Fitbit Charge 2, Alta, Fitbit Blaze and the Fitbit Flex 2.

Earlier, Fitbit announced at the presentation of the preliminary quarterly figures that the company is taking measures to reduce costs. That is why, among other things, 110 employees are being made redundant. After the acquisitions of Pebble and Vector, Fitbit had 1,753 employees at the end of last year.