Search engine giant Google is looking forward to extend its presence in the wearable device market. Reports say that the company is under discussions with Jawbone so as to acquire a stake in it. Google is leaving no stone unturned in the wearable device market so as to cop up with the increasing competition by other coming up brands.
The search engine is looking forward to invest in Jawbone but still wants to keep itself away from acquiring it. However, no official announcement has been made and the company has not even given any idea of the amount of investment it is expected to make. On the basis of earlier money studies, Jawbone is valued at $3 billion. In 2014, the company raised $250 million.
Google had bought stake for Nest Labs for about $3.2 billion in 2014. The company was owned by Tony Fadell who was earlier with Apple Inc. With the new idea of investment it could be a good boost in the wearable device industry for Jawbone. Google has constantly been eyeing the wearable device industry as it was searching for a potential acquisition.
On the other hand Google is not the only company, Jawbone has been in talks with. The Fadell owned company is also in talks with some of the tactical investors. Reports have also indicated that Google is at present at the primary stage. So there are possibilities that Google might soon make an investment.
Photo Credits: 9to5 toys
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