Google pays $40 million to buy innovative smartwatch IP from Fossil

Google and smartwatch manufacturer Fossil Group have agreed to a $40 million deal that will see the search giant purchase Intellectual Prop...

Google and smartwatch manufacturer Fossil Group have agreed to a $40 million deal that will see the search giant purchase Intellectual Property from the watchmaker. Fossil announced today that the IP covers smartwatch technology that is in the process of being developed by Fossil as a result of its 2015 purchase of competitor Misfit. The deal will close this month.

Fossil's executive vice president Greg McKelvey, who also answers to the title of chief strategy and digital officer, said as a result of this transaction, a new smartwatch innovation will be released. ...

from PhoneArena http://bit.ly/2RRKnxK