Fossil is selling $40 million of its smartwatch tech to Google, and as a result, the company's shares jumped around 8 percent on Thursday.
Fossil has been working on various smartwatches that feature Google Wear OS, with is a competitor to Apple Watch. While the two share functionality, Fossil's smartwatches haven't really gained traction like Apple's products have. Still, Fossil has noted that its smartwatch category has been steadily growing, so this is still a major boon for Google.
"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," said Stacey Burr, vice president of product management, at Watch OS by Google.
The deal is supposed to close at the end of January, but in the meantime you might want to do some research on what kind of smartwatch tech is right for you if you're in the market to buy one. There are a ton of them out there, and if you're looking for function and form, the Apple Watch is definitely a great choice.
But the Fossil watches out there are very sharp, looking more in line with regular watches than what you think a smartwatch should look like. If you're interested in ponying up some cash for one, you might consider that angle if you're someone who dresses up a lot.
On the Google side, it'll be cool to see what Google is planning on doing with the tech inherited from Fossil. What could we see on the horizon? We can't wait to find out.
Brittany Vincent posted a new article, Google acquired Fossil's smartwatch tech for $40 million
I had no idea fossil made any worthwhile smart watches