Last we heard back in December 2016, the IDC revealed that Fitbit is still the dominant wearables maker in the market today, and this is an accomplishment and achievement that Fitbit plans on maintaining because according to a report from TechCrunch, Fitbit just acquired another smartwatch maker.
The smartwatch maker in question is Vector whose products launched back in 2015. For those unfamiliar, Vector was founded by former Citizen executives which no doubt brought their experience in the watch world to the company. The company’s products were designed to fill the affordable luxury smartwatch sector, but it seems that Fitbit’s acquisition has nothing to do with that.
Speaking to TechCrunch, the company’s founder and CTO Andrei Pitis revealed that the company was acquired namely for their software platform and their design team, although what exactly Fitbit has in mind remains to be seen. Fitbit is a company known more for their fitness trackers and while they do have one smartwatches to their name (the Fitbit Blaze), we guess acquiring Vector will give them that boost.
The company appears to be on an acquisition spree because last year, Fitbit also announced that they had acquired Kickstarter darling Pebble. Will this latest acquisition help Fitbit maintain their lead and maybe further the gap between them the competition? We guess we’ll have to wait and see.
Filed in . Read more about Fitbit, Smartwatch and Wearable Tech.