Google's parent company bids for Fitbit

Photo: Fitbit Inc. / (MGN)
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Alphabet, the parent company of Google, wants to buy Fitbit.
The deal would make Alphabet a player in the wearable fitness tracking space...
It would allow Google to directly compete against the likes of Apple, which recently released a new version of its popular Smartwatch.
Google licenses its "wear" operating system to companies, such as Fossil, but does not currently make its own smartwatch.
Buying Fitbit could be a play to make Google services a greater part of customers' lives and measure up to Apple in the health and fitness space.
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