Jon Russell, TechCrunch:
The Information said that the deal will see Pebble and its products closed down over time, with Fitbit acquiring its assets, which include intellectual property and software… Our source said that Fitbit is now paying between $34 and $40 million for the company and is “barely covering their debts.”
The original Pebble was the first smartwatch I ever owned; I missed the Kickstarter but bought one when they launched to the public in 2013. At the time I hoped the Pebble would be the "open source" smartwatch, able to do things a future, tightly controlled Apple Watch would never do. Unfortunately that never came to pass.
The only real value for Fitbit in this acquisition is Pebble's operating system, so a more advanced Fitbit watch could be on the horizon.