Pebble being sold for parts

Fitbit is only interested in Pebble’s software and after its acquisition of the ailing smartwatch maker it plans to cancel the Pebble Time 2 and Core.

It will also offer Kickstarter backers refunds, Bloomberg reported.

This follows news that the fitness accessory maker was in talks to buy Pebble for an undisclosed sum.

Bloomberg’s sources confirmed that the purchase price would be under $40 million, which is not enough to cover Pebble’s debts.

Pebble’s other assets, including product inventory and server equipment, will be sold separately.

Fitbit has started offering jobs to about 40% of Pebble’s employees, most of whom are software engineers.

According to the report, few Pebble interface designers were offered positions and hardware teams were not offered jobs at all. Certain staff who didn’t get an offer will be given severance packages, stated the report.

Now read: Smartwatch sales have dropped sharply

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Pebble being sold for parts