What have pebble and coin done to get this IP? Just had enough patent lawyers around to patent stuff they happen to be working on ("Method of having an e-ink watchface")?
You usually acquire IP by inventing something, and then filing for patents based on the invention, if that's what you're asking.
To be fair, I don't think Pebble was aspiring to be acquired by Fitbit for their IP. They turned down a huge acquisition offer, presumably on the notion of getting bigger. This was just a fire sale which barely returned money to debt holders (and maybe some to investors).
Same thing with Coin. In fact, Fitbit only acquired a portion of that company.
That's how the game is played, yes. If Fitbit has been on the receiving end of of patent problems, it's no surprise that they're very interested in patents.
To be fair, I don't think Pebble was aspiring to be acquired by Fitbit for their IP. They turned down a huge acquisition offer, presumably on the notion of getting bigger. This was just a fire sale which barely returned money to debt holders (and maybe some to investors).
Same thing with Coin. In fact, Fitbit only acquired a portion of that company.