Fitbit is planning to acquire the smartwatch developer Pebble, according to several reports in the Wall Street Journal, BBC News and others.
Fitbit is interested in Pebble's intellectual property and employees, according to the Wall Street Journal; however, Fitbit will likely close the Pebble brand. Pebble was one of the original companies to enter the smartwatch market.
Fitbit is offering about $40 million, according to a BBC News report.