Fossil Smartwatch 'secret' tech for $40 million

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Google buys Fossil Smartwatch 'secret' tech for $40 million; hints at Google-branded fitness watch
In a move to create its own smartwatches Google has purchased Fossil Smartwatch 'secret' tech for $40 million, Hints at Google-branded fitness watch for 40 million dollars.

Fossil Group on Thursday announced that they will be selling their select Smartwatch Technology to Google for an estimated $40 million. As per the deal, a portion of Fossil's research and development team will now work with Google while the remaining 200 members will continue working with Fossil to focus on innovation and product development. The agreement between the two electronic giants will be closed at the end of the month. With this agreement, in the near future, we might expect Google to create its own branded watches or wearables in collaboration with Fossil. It seems Google has already have big future plans to expand its arena in smart-watches which could look more like a wearable, which might be revealed to us soon.

Talking about the motive behind the deal the Chief Strategy and Digital Officer at Fossil Group said, “We’ve built an advanced technology which has the potential to improve upon our existing platform of smartwatches. Together with Google, our innovation partner, we’ll continue to unlock growth in wearables."

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Stacey Burr, Vice President of Product Management, Wear OS by Google said, “Wearables, built for wellness, simplicity, personalization and helpfulness, have the opportunity to improve lives by bringing users the information and insights they need quickly, at a glance. The addition of Fossil Group’s technology and team to Google demonstrates our commitment to the wearables industry by enabling a diverse portfolio of smartwatches and supporting the ever-evolving needs of the vitality-seeking, on-the-go consumer."

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Fossil Group Inc. recently introduced 'Sport' has become one of the fastest growing categories. The America-based fashion designing company offers a varied portfolio which includes- fashion watches, jewellery, handbags, small leather goods and wearables. The company is an established brand in manufacturing fashionable watches. Its network is spread in approximately 150 countries and 500 retail locations. Google is already making its range of consumer electronics under the Pixel moniker - Pixel smartphones, the Pixel tablet, Pixel Book and more. The upcoming acquisition of the "secret" smartwatch technology from Fossil may point to the fact that Google could be working on a possible Pixel smartwatch or a possible Pixel smart wearable. Google has not confirmed anything regards to this yet, but we already have our fingers crossed.

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