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Pebble is dead, software assets acquired by Fitbit, upcoming hardware canceled
Following several reports over the past few days, both Pebble and Fitbit have officially announced this morning that Fitbit will acquire Pebble's software assets as the smartwatch maker is dissolved. The acquisition excludes all hardware.Neither company has confirmed details of the arrangement, reported to land at approximately $40 million, but the official announcement does clear up what Fitbit will get out of the deal and what will lie in the future for Pebble's hardware. For Fitbit, this acquisition brings talented software developers skilled in platform and application development, to be used to improve the software on Fitbit's hardware. Pebble's developers will work alongside Fitbit's current development team. James Park, CEO and co-founder of Fitbit had the following to say on the deal.