Fitbit To Buy Smartwatch Maker Pebble For Up To $40 Million: Reports

Fitbit Inc. is set to buy smartwatch maker Pebble for as much as $40 million in a deal that's barely enough to cover the company's debt, according to media reports. Tech news site The Information first reported the deal but without specifying an amount, saying Fitbit will require Pebble's assets, including intellectual property and software. A source told TechCrunch the offer price is between $34 million and $40 million. Representatives from Fitbit and Pebble were not immediately available for comments. Fitbit shares were up 1.9% in thin premarket trading.