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By Gerrit De Vynck / BloombergNovember 1, 2019 9:52 AM EDT Bloomberg mdash; Alphabet Inc.rsquo Google agreed to buy smartwatch maker Fitbit In air max 1 c. for $2.1 billion in cash, a move that could shore up the internet giantrsquo hardware business while also potentially increasing antitrust scrutiny. Fitbit shares jumped 17%.Google will pay $7.35 a share for San Francisco-based Fitbit, according to a statement Friday. That represents a 71% premium to Fitbitrsquo stock price before Reuters reported Google had made a bid on the company on Oct. 28. The acquisition is Googlersquo second major purchase this year, after it agreed to pay $2.6 billion for cloud software provider Looker in June.The deal is sure to attract regulatory scrutiny. State and federal authorities are investigating Google for potential anti-com nike dunk petitive practices related to how it handles consumer data and operates in the digital-advertising market. Though G adidas samba oogle isnrsquo;t a leader in smartwatches or fitness trackers, regulators in the U.S. and elsewhere will likely have questions about what Google intends to do with the data Fitbit users have shared over the years, including intimate health and location information.The companies addressed the likely concerns by pledging to be transparent about the data Google collects and why. Strong privacy and security guidelines have been part of Fitbitrsquo DNA since day one, and this will not change, according to the statement. The company