Pebble cancels Time 2 and Core due to impending acquisition by Fitbit

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The acquisition of Pebble by Fitbit is near, according to sources of business newspaper Bloomberg. As a result of the acquisition, the Pebble Time 2 and the Pebble Core would no longer be on the market. Both Kickstarter products were scheduled for a January release.

In May, Pebble raised 11.5 million euros for the making of the Pebble 2, Time 2 and Core. The former has since been sent to the backers of the project, but the Pebble Time 2 and the Core have not yet been released. According to Bloomberg sources, the acquisition means the wearables will be scrapped. Backers of the Kickstart project would get their money back.

Fitbit would like to acquire Pebble primarily because of the company’s software and intellectual property. The hardware would fall outside the acquisition. According to the rumors, Fitbit pays 40 million dollars for the ailing Pebble, converted about 37.3 million euros. The company is said to have offered jobs to 40 percent of Pebble’s employees last week. This would involve software developers.

Rumors of a acquisition of Pebble by Fitbit have been going around since early December, but it’s only now coming out that this may mean that the Pebble Time 2 and Core will no longer be released. Both Fitbit and Pebble have yet to comment on the rumors to Bloomberg. The sources of the business newspaper want to remain anonymous because they speak of an unannounced takeover.

Update 15.51: Pebble has confirmed the takeover and production stop.

Pebble 2, Time 2 and Core

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