Google recently reached an agreement with the watchmaker Fossil, to acquire some of their mystery smartwatch technology as well as some members of the research and development division responsible for creating it.
According to a report by The Verge, the deal was closed for roughly around $40 million and as per the terms, Fossil will hand over a “portion” of its R&D team, the portion of the team who was directly responsible for the intellectual property being sold, over to Google. Due to this, Google will now have an all-new team with years of experience in hardware technology. The team will work on Google’s WearOS software platform and potentially on brand new smartwatch designs as well.
“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,” Stacey Burr, the president of product management for Google’s WearOS platform, said in a statement according to the report.
“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,” she added.
Burr also told Wareable that Google saw the technology and thought it “could be brought out in a more expansive way if Google had that technology, and was not only able to continue to use it with Fossil but bring it to other partners in the ecosystem.”
It’s still unknown what the technology really is, but it got Google interested enough to get their hands on it. The Verge reported that it is somehow based on the same tech Fossil acquired from wearable maker Misfit for $260 million back in 2015.