For the last several years, Fitbit has created hardware and software designed to help consumers keep track of their activity levels. But we’ve heard the wearable maker could soon acquire FitStar, a startup which makes apps that might help motivate Fitbit customers to actually be more active.
According to a source close to the matter, Fitbit is evaluating a purchase of FitStar for upwards of $25 to $40 million in a mix of cash and stock. A deal like this could always fall apart, of course, but if it goes through our source says the acquisition could close as early as next week.
Fitbit is one of the oldest and has some of the most popular activity trackers on the market. Founded in 2007, its devices accounted for approximately 50 percent of all wearable bands sold in 2013, according to one research report.
That said, the market has been…
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