Today Fitbit released this statement.
Fitbit (NYSE:FIT) has not received any communication from ABM Capital, or any other firm, regarding a reported offer. As the leader in the connected health and fitness market, we remain focused on delivering innovative products consumers love and are confident in our vision for the future.
Get used to this sort of statement about players in the market. As I said <here> the future of this market will see fewer players due to rationalisation. M&A activity is one way this will come about as well as some companies just quitting the market or going bankrupt.
Fitbit clearly have got a good brand image and product set/data infrastructure. A capital injection maybe could further leverage those assets. I don’t know I’m not an analyst.
Of course some of the smaller companies will be praying for a courtship from a new investor to give the original founders the chance for a profitable exit.
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