Fitbit acquired smartwatch startup Pebble for only $23M

Fitbit bought the smartwatch maker Pebble for much less than initially reported. According to Fitbit's earnings report, the buyout price was only $23 million instead of previously reported sums up to $40 million. The buyout price likely does not cover the debt Pebble accumulated over the past five years. Fitbit also bought Vector, a less known smartwatch, for $15 million. Despite recent struggles the company underwent, Fitbit's acquisitions mark its progress to launch its own smartwatch this year.