Technology and staff to shift to Google following deal
Google is planning a new assault on the wearables market following a $40 million tie-up with Fossil Group, the fashion company behind the Fossil watch and smartwatch brand.
The company is buying-up the smartwatch intellectual property in a deal that will also see staff transfer to Google.
The news was revealed by specialist website Wareable in an interview with Fossil Group chief strategy and digital officer Greg McKelvey.
The deal, McKelvey told Wareable, will result in the launch of a “new production innovation that’s not yet hit the market”. He added, somewhat cryptically: “It’s new to the market technology and we think it’s a product that has features and benefits that aren’t in the category today.
