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Google Just Spent $40 Million For Fossil's Secret Smartwatch Tech (theverge.com)
Google and watchmaker Fossil Group today announced an agreement for the search giant to acquire some of Fossil's smartwatch technology and members of the research and development division responsible for creating it. From a report: The deal is worth roughly $40 million, and under the current terms Fossil will transfer a "portion" of its R&D team, the portion directly responsible for the intellectual property being sold, over to Google. As a result, Google will now have a dedicated team with hardware experience working internally on its WearOS software platform and potentially on new smartwatch designs as well.
... I know this from first-hand personal experience, from a high-water mark in the late 00's/early '10s with brand new north-dallas headquarters and google-esque company cafeteria with 4-star chef to oversee the various stations, followed first by the downsizing, the inevitable outsourcing of IT, the shedding of expensive senior professionals and managers, and now here we are - selling off for $40 million this last bit of smart watch tech, which only 5 (?) years ago Kosta Kartsotis was announing to all employees was "the future of Fossil". All of this is just the fire-sale before the collapse.