Fitbit has acquired “specific assets” from Vector Watch, a European wearables company, a Fitbit spokesperson told MarketWatch Tuesday. The acquisition does not include the watch company’s hardware products. With the acquisition, Fitbit said it would be starting a development center in Bucharest, Romania. The acquisition announcement follows Fitbit’s acquisition of Pebble’s assets, but not its hardware, in December. Shares of Fitbit were down 5% Tuesday. In the past three months, shares of Fitbit have fallen 47%, compared to the S&P 500’s gain of 5%.
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