The Fossil Group announced a pretty big transaction today — the sale of apparently secret smartwatch tech which the leading Wear OS device manufacturer still has under development.
Google is the buyer and is paying $40 million for certain intellectual property as well as for the acquisition of part of Fossil’s R&D team as part of the deal that’s expected to close this month. For its part, Fossil Group — which made today’s the announcement and has developed smartwatches across 14 owned and licensed brands — said the deal showcases both companies’ “shared investment in the wearables industry.”
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Google just paid $40 million for Fossil’s secret, unfinished smartwatch tech originally appeared on BGR.com on Thu, 17 Jan 2019 at 22:09:55 EDT. Please see our terms for use of feeds.
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