By John Glenday

Wearables specialist Fitbit is looking to take advantage of smartwatch maker Pebble’s travails by offering a rock-bottom takeover valuation of between $34 and $40m to consolidate its presence in the sector.

Reports in TechCrunch suggest that the acquisition would see the business and products slowly phased out as Fitbit takes control of assets such as intellectual property rights and software.

If true, it charts a dramatic fall from grace for the company which was valued as highly as $740m in 2015 by Citizen before Intel made a $70m bid – both of which were rebuffed by Read full story ›

Source: The Drum