Fitbit Acquires Wearable Payment Startup, Could Integrate Payments Into Future Devices

Shares of Fitbit Inc. were up 2% in premarket trade Wednesday, after the company said it has acquired the assets of Coin, a consumer electronics and financial technology company. With the acquisition, Fitbit gained some of Coin's personnel and intellectual property, including its wearable payment assets. The company said the acquisition speeds up its "ability" to integrate a mobile payment system into its Fitbit devices, but it doesn't plan to include it in the 2016 product roadmap. Fitbit did not disclose the financial details of the acquisition.