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Google paid $40 million for buying smartwatch technology from Fossil
Google agreed to pay $40 million to buy smartwatch technology from Fossil. All you need to know about this deal.
Google seems to be still interested in launching its first part Wear OS device. The search giant just agreed to pay $40 million to buy smartwatch technology from Fossil. Fossil is a well known and established brand in the Wear OS device manufacturing. Fossil's Sports smartwatch was the first watch to feature the Snapdragon Wear 3100 chip at an affordable price.
"Fossil Group has experienced significant success in its wearables business by focusing on product design and development informed by our strong understanding of consumers' needs and style preferences," said Greg McKelvey, Executive Vice President and Chief Strategy and Digital Officer, Fossil Group. "We've built an advanced a technology that 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."
Fossil will be developing something new for Wear OS and share it with Google. This is expected to be the Pixel Watch series, but the company has not disclosed anything on this and decided to keep it as secret.
"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," said Stacey Burr, Vice President of Product Management, Wear OS by Google.
Let's see what Google and Fossil are going to come up with. We can expect some more information on this deal and upcoming device in the coming future.