Fitbit is set to acquire troubled smartwatch-maker Pebble, according to a report from The Information. The deal is said to be mainly about the company's intellectual property and software, and will likely result in the end of Pebble hardware.
In a subsequent report, TechCrunch says a source close to the startup pegged the deal in the neighborhood of $34 to $40 million, and it will just barely cover its debts. In the past, it was rumored Pebble received offers as high as $740 million.