Google parent Alphabet bidding for Fitbit

Fitbit may be up for sale and the biggest tech companies may be vying for it. Google's parent company, Alphabet, it seems, is the front runner among them.

Reuters reported on Monday that Alphabet has already made an offer to buy Fitbit. While the publication did not disclose the amount that Google offered for the company, it is expected to be one of the biggest tech deals of recent times.

A deal is not yet confirmed both companies declined to comment on the matter when asked by Reuters. However, both companies' market cap increased in the New York Stock Exchange on the indication that this purchase was in the works. Fitbit stock rose 27 percent while Alphabet stock rose 2 percent on Monday.

Fitbit is among the biggest manufacturer of smartwatches and fitness-related wearables. If it is acquired, it can contribute significantly to Google's smartwatch centric Wear OS.

A deal is necessary for Fitbit at this time, since the company is now a standalone brand centred on fitness-related wearables. While its Versa line of devices did well recently, it is at such a precipice that even one product failing can lead to company bleeding cash. It is also facing tough competition from the likes of Apple and Samsung.

Google on the other hand, hasn't lived up to the hype it generated around WearOS. Most third-party manufacturers have opted for their own operating systems rather than Google's. Samsung has the TizenOS, Apple has the WatchOS and even Fitbit has its own operating system by the same name. Fitbit's system is built around the operability it gained from acquiring Coin, Vector and Pebble. If Google acquires Fitbit, it may be able to refurbish the WearOS by essentially replacing it with the Fitbit OS.

Google is raising its wearables profile – the company is also expected to buy watch company Fossil's smartwatch development technology for $40 million.