Alphabet Inc.’s Google has reached a deal to buy wearable fitness products company Fitbit Inc. for roughly $2.1 billion, an acquisition which would extend the internet-search giant’s reach in consumer electronics.

Google said it would acquire the maker of fitness trackers and smartwatches for $7.35 a share in cash, a 19% premium to Fitbit’s closing price Thursday. Fitbit shares rose 16% in Friday morning trading, while Alphabet’s shares ticked up slightly.