The purchase will see members of Fossil’s research and development team move over to Google, along with the IP, which is apparently for smartwatch technology that has yet to appear in a commercial product. The deal is expected to be finalized later this month, though relatively few details about what the IP is for have been released, except that it is a product line.
The IP is based on a technology that Fossil acquired as part of its purchase of wearable devices startup Misfit in 2015, a deal itself worth $260 million Fossil EVP and chief strategy and digital officer Greg McKelvey advised to Wareable.
