Vector Watch, with its development team based in Romania, produces an "affordable luxury" smartwatch, with an e-ink LCD screen, 30-day battery life and a smartphone control app which works across iOS, Android and Windows phones.
In a statement, Vector Watch said, "Today, we are happy to announce that the Vector Watch team and our software platform are joining Fitbit, the leader in the connected health and fitness market! We believe this is an important milestone as a moment when we will start building other new and amazing products, features and experiences, incorporating our unique technology and knowhow with Fitbit’s experience and global community."
The demand for smartwatches has been declining as has Fitbit's share price. This will be Fitbit's fourth acquisition.
Read more: Venture Beat