- The deal for the software assets would be mostly about getting ahold of Pebble's software engineers and testers, as well as obtaining the company's intellectual property such as the Pebble watch's OS, watch apps, and cloud services, according to the report.
- The purchase price is less than $40M, according to sources, noting Pebble's debt and other obligations exceed that amount, but FitBit (NYSE:FIT) is not taking on any of that.
- Pebble is struggling - IDC recently said wearables shipments tumbled 52% in Q3 - and earlier this year cut a quarter of its staff. After the sale, Pebble's offices would be closed, and it would be up to FitBit to decide what to do with the brand.
- FitBit began sending job offers to about 40% of Pebble's employees in the last week. As for Pebble's CEO Eric Migicovsky, he's reportedly set to join Y Combinator as a partner.