https://investor.fitbit.com/press/press-releases/press-release-details/2016/Fitbit-Inc-Acquires-Assets-from-Pebble/default.aspx https://investor.fitbit.com/pres

https://investor.fitbit.com/press/press-releases/press-release-details/2016/Fitbit-Inc-Acquires-Assets-from-Pebble/default.aspx https://investor.fitbit.com/press/press-releases/press-relea... Fitbit didn't acquire Pebble; they acquired some assets from Pebble. The corporate entity Pebble still existed, with all the liabilities left on the balance sheet, and someone had to wind it down.