“Fitbit is very close to announcing its plan to purchase Pebble, according to a new report from Bloomberg, which describes the rumored deal as “imminent.” The leading maker of fitness trackers has offered jobs to roughly 40 percent of Pebble’s staff, with most of those going to software engineers. Fitbit’s buyout of Pebble will focus on the smartwatch startup’s software assets, like the operating system on Pebble’s existing devices.

But the deal will reportedly not cover any hardware — including both current and future Pebble products. “The rest of Pebble’s assets, including product inventory and server equipment, will be sold off separately” says the report, which is backed by sources said to be familiar with the acquisition.

As a result, the Pebble Time 2 and Pebble Core will be canceled and won’t ever ship to Kickstarter backers and pre-order customers. Refunds will be issued to everyone that supported either product through crowdfunding.”

Not much to say other than its a shame to see that Pebble will cease to exist soon, but one can only hope that all the talented engineers from Pebble help make Fitbit devices even better.

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