Google Buys Fossil’s Mystery Smartwatch Tech For $40M - MobileAppDaily
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Fossil Smartwatch Tech Acquired By Google For $40M

This ‘mystery’ smartwatch can change the whole face of Wear OS ecosystem!

Fossil Smartwatch Tech Acquired By Google For $40M

As technology becomes more potent, the want for smartwatches among youth is swelling like a snowball.

On Thursday, Google announced a $40 million deal to purchase the smartwatch technology from the fashion and accessories group Fossil, to bring in new wearables to the company’s platform - Wear OS.

A portion of Texas-based Fossil Group’s research and development(R&D) team working on the mystery tech will also be acquired by Google, as part of the deal. Although, Fossil confirms that it will still retain more than 200 of its R&D team to work on innovation and product development.

Fossil EVP and chief strategy and digital officer Greg McKelvey, in an interview with Wearables, hinted that the deal with Google will provide an upshot to a ‘new product innovation that’s not yet hit the market.’

Greg further added,

Stacey Burr, vice president at Google Wear OS division, said that the wearables, built for wellness, simplicity, and personalization have the potential to improve lives by bringing users the information and insights they need, at a glance.

Burr said that Google’s deal with Fossil focused primarily on bringing the new tech to the entire Wear OS ecosystem. She further added that their company saw some technology that Fossil was developing, and they thought it could be brought more expensively way if Google had that technology.

"It's about bringing great features to the widest numbers of on-the-go consumers."

Fossil’s smartwatches technology came into play in 2015, with its acquisition of the wearable technology company Misfit for $260 million, created by former Microsoft researcher Sonny Vu and onetime Apple chief executive John Sculley.

Fossil is not the only company that deals in smartwatches. Companies like LG, Tag Heuer, and Movado use Wear OS technology as well. Since Google doesn’t make smartwatches of its own, this deal would give them the potential to create their own branded Android smartwatches to compete against giants like Apple, Fitbit, and others in the wearable tech space.

MAD Team
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