The first smartwatch developed by a Romanian team has been acquired for an undisclosed price by US wearables giant Fitbit, less than two years after it came to market in 2015. The company’s founder Andrei Pitis, will join Fitbit as Vice President of Engineering and head the new Bucharest office. Last year, Fitbit also acquired Pebble, another smartwatch maker, which indicates a mission by the wearables company to consolidate talented developers involved in the wearables sector. Like other Romanian tech companies, Vector has benefitted from splitting its team between Romania and the UK. Another example is Brainient, a Romanian video advertising company acquired last year by Teads, an American company, also for an undisclosed sum.
Source: Forbes January 11, 2017 23:14 UTC