Google acquires Fossil smartwatch tech for $40mi

Google agreed to pay $40 million for the smartwatch technology of the fashion and accessory group Fossil, the companies said on Thursday, enabling the California tech giant to expand in the growing wearable tech market. As part of the deal, Texas-based Fossil Group’s research and development team working on the smartwatch will join Google, which will acquire the intellectual property for Fossil smartwatches, the firms said. The move would give Google the potential to create its own branded smartwatches to compete against Apple, Fitbit and others in the wearable tech…

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