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Google Just Spent $40 Million For Fossil's Secret Smartwatch Tech (theverge.com)

Posted by msmash on from the big-fish,-small-fish dept.

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.

10 of 30 comments (clear)

  1. Waiting with bated breath by mattyj · · Score: 1

    Maybe they acquired some sort of wrist-based ECG technology that we can expect to see in a Google watch in two years or so.

  2. What secret? by Maury+Markowitz · · Score: 3, Insightful

    "Fossil's Secret Smartwatch Tech "

    No, just Fossil's Smartwatch Tech. There's nothing secret about it.

  3. NICE YET ANOTHER SPYOS by Anonymous Coward · · Score: 1

    yay

  4. I am afraid Google will "fail" to execute... by bogaboga · · Score: 4, Insightful

    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.

    One product that quickly comes to mind is Nest. Google paid quite a sum for it, then killed it.

    If we look closely at its [current] messaging regime, we can only conclude that Google's business with Fossil will not buck the trend.

  5. Alive, is it... by SuperKendall · · Score: 2

    considering they just released the third generation of their thermostat product within the last month.

    Just 'cause the limbs a-twitchin, don't mean it ain't dead friend.

    --
    "There is more worth loving than we have strength to love." - Brian Jay Stanley
  6. Fossil is a company in decline... by Anonymous Coward · · Score: 4, Interesting

    ... 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.

    1. Re:Fossil is a company in decline... by sad_ · · Score: 1

      at least a portion of the R&D department will keep their jobs, instead of all just ending up on the street.

      --
      On a long enough timeline, the survival rate for everyone drops to zero.
  7. Device Wearables potential by spinitch · · Score: 1

    Device Wearables have potential. My Apple Watch pair is very useful but stuck in iOS. A competitor like Android a growing market. Depends on the terms and what useful tech / resources Fossil owned but it is An area worthy of expansion and perhaps competition pushed the decision ( e.g. other bidders ).

  8. fire sale for sure by SethJohnson · · Score: 1

    I agree. The price of $40 million is a liquidation of assets price. It's not a price indicating a valuable user base. Maybe there are some patents in there and a few worthwhile developers and designers.

    --
    $5 / month hosted VPS on linux = awesome!
  9. Transferring People ? by Crashmarik · · Score: 2

    Well so much for the 13th Amendment. Just how much of the 40 million are the people getting ?