Fossil’s Smartwatch Tech is bought by Google For $40 Million
Worldwide watch and accessories producer Fossil Group has declared to offer its cell phone innovation to Google for $40 million. As a major aspect of the exchange that is relied upon to close this month, a part of Fossil Group’s innovative work (R&D) group presently supporting the exchanging licensed innovation (IP) will join Google, the organization said in an announcement on Thursday.
Fossil, that constructs smartwatches that run Google’s Wear OS programming and contends with Apple Watch, would hold more than 200 R&D colleagues to concentrate on advancement and item improvement.
“We’ve assembled and propelled an innovation that can possibly enhance our current stage of smartwatches. Together with Google, our advancement accomplice, we’ll keep on opening development in wearables,” said Greg McKelvey, Executive Vice President and Chief Strategy and Digital Officer, Fossil Group.
Fossil Group has propelled smartwatches crosswise over 14 of its claimed and authorized brands. “The expansion of Fossil Group’s innovation and group to Google exhibits our pledge to the wearables business by empowering a different arrangement of smartwatches,” said Stacey Burr, Vice President of Product Management, Wear OS by Google.