Fossil Group to sell its smartwatch technology currently under development to Google

Fossil Group to sell its smartwatch technology currently under development to Google: Fossil Group has announced its plan to sell to Google for $40 million, intellectual property (IP) related to a smartwatch technology currently under development by the Fossil Group. As part of the transaction, a portion of Fossil Group’s research and development (R&D) team currently supporting the transferring IP will join Google. Fossil Group retains more than 200 R&D team members to focus on innovation and product development. The transaction showcases Fossil Group and Google’s shared investment in the wearables industry. In recent years, smartwatches have become Fossil Group’s fastest growing category. The company successfully developed and launched smartwatches across 14 of its owned and licensed brands.

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