News Of Second Bidder For Fitbit Driving Its Stock Up


Google To Purchase Activity Tracking Device Maker Fitbit

Google To Purchase Activity Tracking Device Maker Fitbit

NEW YORK, NY — UnitedHealthcare maybe bidding on Fitbit to expand their partnership of fitness for covered employees and their spouses.

Fitbit's stock is on the rise after news that a second company made a bid to buy the maker of fitness wearables.

Google announced earlier this month it intends to buy Fitbit for about $2.1 billion dollars.

Acquiring Fitbit will help Google compete with rival Apple and its smartwatch.The two already compete in mobile operating systems for phones and tablets and competing apps.

An SEC filing shows there was a second, unnamed company that also made a bid.

Analysts say two possibilities are Amazon, which is interested in joining the wearable marketplace, and UnitedHealthcare, which has an existing partnership program with Fitbit.

Currently, UnitedHealthcare and Fitbit offer a program called UnitedHealthcare Motion that offers covered employees incentives for registering and syncing their fitbit device and walk between 500 and 10,000 steps a day in exchange for deposits into their Health Reimbursement Arrangement (HRA) or Health Savings Account (HSA).

In a bidding war that went on for a month, the mystery company's final bid was $7.30 dollars a share.Google's bid was $7.35 dollars per share.

News Of Second Bidder For Fitbit Driving Its Stock Up

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