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Fitbit Buys Software Assets From Smartwatch Startup Pebble

  • Pebble CEO Migicovsky said planning to join Y Combinator
  • Fitbit sent job offers to about 40 percent of Pebble staff
relates to Fitbit Buys Software Assets From Smartwatch Startup Pebble
Source: Fibit
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Fitbit Inc., the fitness band maker, has acquired software assets from struggling smartwatch startup Pebble Technology Corp., a move that will help it better compete with Apple Inc..

The purchase excludes Pebble’s hardware, Fitbit said in a statement Wednesday. The deal is mainly about hiring the startup’s software engineers and testers, and getting intellectual property such as the Pebble watch’s operating system, watch apps, and cloud services, people familiar with the matter said earlier.