Google parent company Alphabet will buy Fitbit, putting the tech giant head-to-head with Apple in the fitness tracking and consumer health space. The deal values Fitbit around USD 2.1 billion at a fully diluted equity value.The acquisition makes a lot of sense as Google has spent years trying to break into the wearables market with its Wear OS platform, but it has struggled to make a real impact. Fitbit is offering Google an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market.