Fitbit is in discussions with Qatalyst Partners, an investment bank, an investment bank, exploring the possibility of a sale, according to Reuters.
The move was motivated in part because the leader in fitness trackers is facing challenges gaining traction in smartwatches. Qatalyst has reportedly been aiming to convince Fitbit to explore options, including interest from private equity firms in addition to Alphabet Inc., the parent of Google. The report indicated Fitbit as not made a decision on whether to sell.
