Romania-based Vector Watch is a specialist maker of high-end smartwatch technologies styled to look like expensive and modern ‘traditional style’ watches. Faegre Baker Daniels attorney Cristina Audran-Proca, who acted as lead advisor to Vector on the deal, believes that Fitbit’s acquisition of the company heralds the growing potential for Romanian luxury and technology brands to catch the eyes of overseas investors: ‘This is a perfect illustration of the huge potential of the vibrant Romanian tech industry,’ she said. ‘I am certain that this year, we will see other headline success stories coming from this space, as local companies become ripe for investments, exits and perhaps even IPOs.’

A spokesperson for Fitbit commented: ‘With the addition of the Vector Watch team, we are establishing a cutting-edge development centre in Bucharest, Romania, further building our global engineering capabilities and expanding our presence in the EMEA.’