Fitbit might buy Pebble

Although Pebble recently released a new firmware update for its smart wearables, the company is in trouble. Not long ago, Pebble laid off a significant percentage of its workforce. Now, it looks like the rumors claiming the wearable maker is looking for a buyer might turn into reality.

"Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble, according to three people briefed on the deal," reveals The Information. While there is no accurate information on the value of such a deal, the same source mentioned above claim "it is thought to be for a small amount."

Sadly, once the deal closes, Fitbit will remain in control of the company's intellectual property and other assets, while the Pebble brand will cease to exist. For now, Fitbit declines to comment, but we will probably hear more about this story soon. Although Fitbit is still the leader of the smart wearable market, the market is currently headed downhill. On the other hand, Android Wear and Apple Watch devices are doing quite well.