The popular connected health and fitness market specialist, Fitbit, has inked a deal to acquire the wearable payment assets of startup Coin.
The deal includes key personnel and intellectual property specific to Coin’s wearables payment platform.
While there are no plans to integrate Coin’s wearable payments technology into the 2016 Fitbit product roadmap, the acquisition accelerates Fitbit’s ability to develop an active NFC payment solution that could be embedded into future Fitbit devices, broadening its smart capabilities. The acquisition excludes smart payment products, such as Coin 2.0.
This acquisition is indicative of Fitbit’s commitment to innovation, which centers on making connected health and fitness devices that are motivating, smart, and stylish.
The transaction was completed on May 12.
Fitbit designs products and experiences that track everyday health and fitness. Fitbit’s diverse line of award-winning products includes Fitbit Surge™, Fitbit Blaze™, Fitbit Charge HR™, Alta™, Fitbit Charge™, Fitbit Flex®, Fitbit One® and Fitbit Zip® activity trackers, as well as the Aria® Wi-Fi Smart Scale. Fitbit products are carried in over 50,000 retail stores and in 63 countries around the globe.
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