Google and Fitbit – level 3
Fitbit is a company that tracks fitness and exercise through wearable technology. Google made an agreement to acquire Fitbit, and it says that Fitbit is worth about $2.1 billion. The agreement may close sometime next year.
The agreement will help both companies. Google has struggled to do well with wearable technology which Apple and Samsung dominate in this area. Fitbit has also struggled because other companies have more money to spend on their wearable technology.
Before the ink dries on the deal, Fitbit said that it will keep its health and fitness data private, and it will never use its data for Google ads.
Difficult words: acquire (to gain, to take on), dominate (to take control), the ink dries on the deal (traditional agreements or deals were signed on paper with ink that took time to dry; in this context, this means that Fitbit quickly said it will keep its health and fitness data private).
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