FMC Technologies to buy FMC Group for $2.3B

FMC, Inc., maker of the Fitbit and Jawbone devices, has entered into an agreement to acquire the FMC Networks Group for an undisclosed amount.FMC will retain a 55% stake in FMC Network Solutions, the parent company of FMC Fitness and FMC Smart, the companies that make the devices.

The transaction is expected to close in the third quarter.

Fmc Networks will continue to be owned and operated by FMC Ventures, which also owns and operates FMC Sports.FMRM, FMC’s parent company, is a leading provider of smart home technologies.

The acquisition of FMRM will give FMC a leading position in the smart home sector, with a portfolio of products that deliver a range of technologies that are used in home automation, home security and automation.