Fitness wearables brand Fitbit has made yet another acquisition in the smartphone realm, snapping up the team and software platform behind European smartwatch maker Vector Watch.
In March last year a brand new smartwatch brand appeared, hoping to offer something different. Combining the incredible engineering talent in Central Europe’s Romania with the business smarts of London and former executives from Citizen watches, the Vector startup carved out a very credible slot in the “affordable luxury” smartwatch sector.
Only a year later, Vector has been acquired for an undisclosed price by global wearable giant Fitbit. Founder and CTO Andrei Pitis confirmed to TechCrunch that the company was acquired for its software platform and design team. This does not, however, signal a move into the luxury smartwatch sector by Fitbit.
In November, Fitbit acquired a pioneer in the smartwatch space, Pebble, with all its engineering talent being sucked into the company. The same fate now awaits Vector, which raised only a small amount of cash, but turned heads with its clever hardware and software integration and design smarts.