Google Buys Smartwatch Technology From Fossil

Google is buying intellectual property (IP) related to a smartwatch technology, currently under development by Fossil Group, as well as the research and development (R&D) team responsible for that IP. The $40 million deal was announced by Fossil Group today. Fossil has developed "a technology that has the potential to improve upon our existing platform of smartwatches". Fossil Group retains more than 200 R&D team members to focus on innovation and product development. The transaction is expected to close this month.