I told you a few weeks ago that Fitbit will buy Pebble in a transaction for a maximum of 40 million dollars, that is, almost 20 times less than the offer received by Pebble at the beginning of the year from another company. Fitbit is interested in the software developed by Pebble and its associated intellectual property.
Fitbit wants to compete more effectively with Apple Watch, so it needs a mature operating system that also has a developer base behind it. Pebble's is excellent for them, and because the purchase is based mainly on the software part, the Pebbles have made the decision to stop the production of new smartwatch models.
Pebble OS, smartwatch applications and the company's cloud services are the most important structures that Fitbit wants to "get their hands on" at the moment. The rest of the company is not interesting to Fitbit, so it will not take over Pebble's debts, contractual obligations assumed for the future, product inventory, servers, plus other items owned by the company.
All this infrastructure and all the products will be sold separately to another entity, so basically Pebble will be sold in pieces because it can no longer be supported from a financial point of view. In this idea, it is understandable why Pebble 2, Time 2 and Pebble Core are no longer part of the production plans of the Pebble company, which will disappear in a few months.
Those who supported the Pebble 2 funding campaign received their products, but those who funded Time 2 and Core will receive their money back in the next period. Some of Pebble's employees will work for Fitbit in the future, others will be fired, and Pebble's offices will be closed, and so a company that brought the idea of a smartwatch to the world's attention will disappear.
