Google jumps into wearables market with Fitbit buy
Some major money is about to shake up the race in the wearable fitness market.
Google confirmed Friday that is buying Fitbit, the company that created the fitness tracker industry, for $2.1 billion.
With Fitbit's hardware, tech and 28 million active users under its umbrella, Google plans to introduce a wearables line into its "Made by Google" brand to take on the Apple Watch and fitness devices made by others like Samsung.
Google is attempting a rescue of sorts. Fitbit has lost its dominance as deeper-pocketed Apple and Samsung outspent it on the high end, and cheaper Chinese-made devices from Xiaomi took over on the low end.
That's likely to change with Google's backing.
In order to soothe privacy concerns, Fitbit announced users' health and wellness data will not be used for Google ads and Google said Fitbit users will have the choice to review, move or delete their data.
Shares of Fitbit have soared 40 percent since Monday when Reuters reported a deal was in the works.
