Fossil to sell some patented smartwatch tech to Google for USD 40 mln

News Wireless Global 18 JAN 2019
Fossil to sell some patented smartwatch tech to Google for USD 40 mln

 The Fossil Group said it plans to sell patented smartwatch technology to Google for USD million. Under the transaction, the part of Fossil’s R&D team that supports the intellectual property will move to Google. Fossil will keep the rest of the team, a bit over 200. 

The deal is expected to close this month. Google said it shows the company’s commitment to the wearables industry.

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