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In a blog post, Vector announced that Fitbit is acquiring the Vector Watch team and its software platform. 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 Fitbits experience and global community, said Vector in the post. Our smartwatches will maintain functionalities and features. You will continue to enjoy the Vector Watch experience: a 30-day battery life smartwatch, with customizable watch-faces and dedicated streams. However, new product features (software and hardware) will not be added. Vector Is Latest Buy The acquisition of Vector comes on the heels of another push into the smartwatch market on the part of Fitbit. In December, Fitbit acquired Pebble, a pioneer in smartwatches, for an undisclosed sum. Rumors pegged the deals price tag at somewhere between $35 million to $40 million. In a press release announcing the deal, Fitbit CEO James Park said, With basic wearables getting smarter and smartwatches adding health and fitness capabilities, we see an opportunity to build on our strengths and extend our leadership position in the wearables category. Fitbit is discontinuing the Pebble smartwatch but will use its software to build a Fitbit app store. (See also: Fitbit Touts Pebble Buy, Partners Waith Medtronic .) Park told The Verge it is gearing up to introduce a wearable app store all its own as soon as possible. According to that report, the app store would be built with some of Pebbles 14,000 third-party apps. Park said Pebble has already worked out a lot of the kinks associated with the creation of an app store. There are so many different applications [our partners] want to write from fitness-related ones to pill reminder applications, he said in the interview.

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