Fitbit discloses that it bought smartwatch startup Pebble for $23 million

Eric MigicovskyCraig Barritt/Getty Images for AOL Inc.Pebble’s CEO Eric Migicovsky

Fitbit finally disclosed Wednesday that it paid $US23 million to acquire assets from beleaguered smartwatch startup Pebble.

The sale price was a secret until now, and was listed in Fitbit’s earnings release. When the deal was formally announced late last year, neither company would disclose how much the deal was worth.

After the sale, Fitbit shut down Pebble and only offered jobs to about 40% of the staff, mostly those working on Pebble’s software. Everyone else was laid off.

Fitbit also disclosed Wednesday that it paid $US15 million for Vector Watch, another smartwatch company.

NOW WATCH: 7 little-known benefits of Amazon Prime

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.