Fitbit buys smartwatch maker Pebble's software assets

Fitbit Blaze watches are displayed during the 2016 CES trade show in Las Vegas, Nevada January 6, 2016. REUTERS/Steve Marcus

Wearable device maker Fitbit Inc said it had bought smartwatch maker Pebble’s software and intellectual property as it looks to strengthen its position in the wearables market.

Pebble, which began as a crowdfunded project in 2012 and raised more than $10 million in a Kickstarter campaign, was one of the first companies to make smartwatches that used electronic ink displays and connected to smartphones.

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