Fitbit has announced it is acquiring the fitness and wellness company Fitbit Health for $5.2 billion.
The deal is expected to close by the end of the year.
Fitbit shares were up 0.3% at $6.49 in after-hours trading.
Fitbits first smartphone, the Fitbit Charge, debuted in 2017, and was discontinued in 2018.
The company said at the time that its health and fitness product line has more than 10 million active users worldwide.
“We are thrilled to join forces with Fitbit, a company that is recognized as a leader in the wearable industry, to help accelerate our continued growth,” Fitbit CEO David Marcus said in a statement.
“We will continue to drive the future of fitness and our team will continue their mission to help build the next generation of wearable devices.”
The deal will create a global company with operations in more than 190 countries, and Fitbit said it would expand to other countries.
Fit-branded products are expected to start shipping in the second half of 2019.