Fossil announced they are planning to sell its Smartwatch IP to Google for about $40 million. With this deal, Google is planning to prove viability of its struggling division Wear OS (wearable operating systems). This deal will help google get a head start in the wearable technologies with a smartwatch technology that is currently under development. As a part of this deal fossil has also promised to transfer some of its employees to Google.
Stacey Burr, VP of Wear OS speaking about this deal said, “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.”
In recent times, Wearables industry have struggled a lot and Wear OS is certainly not an exception. Whereas, Fossil has always remained a rare constant, developing reasonably priced, fitness-focused products with wearable technology software.
Apple has always dominated the smartwatch category followed by Fitbit and Samsung. Google has always struggled in the smartwatch department, but now Fossil got a team of 200 working on R&D, and it is committed to wearable tech which will certainly be very lucrative for Google’s wearable department. Fossil has built and advanced a technology that potentially improve upon our existing platform of smartwatches. This merger between Fossil and Google will unlock better growth in wearables industry.