Fitbit acquires Pebble IP as Pebble Closes Down

An interesting merger in the hi-tech wearables sector with Fitbit and Peeble engaging in a sort of merger.

The software arm of Pebble has been bought by Fitbit and the hardware side of the firm is closing. It strikes me that, given the travails of both firms, this is a last throw of the dice in the face of an increasingly congested hi-tech wearables market.