On Friday, Fossil Group made an announcement that it will be selling some sort of secret currently in development to Google for $40 million. This secret regards smartwatch technology and the purchase agreement involves the technology that Fossil Group has been working on for a while now. Additionally, certain members from Fossil R&D Department will join Google to help them with further integration of this secret technology into their devices.
As a result of this cooperation, a new product will arrive on the market which will be innovative and unlike any other present at the moment. This technology was in development even at the time when Fossil bought Misfit for $260 million.
“It’s based on something out of our timeline, it’s new to the market technology and we think it’s a product that has features and benefits that aren’t in the category today”, said McKelvey.
Besides Fossil and Google, this new tech is also intended for Wear OS as well as other partners in order to make the best possible experience for on-the-go consumers. The plan is for Fossil Group to market the product first and then for the rest of the industry to take it over.
“The Fossil Group will bring the product to market, across our full breadth of brands over time, and then in true Google fashion, the technology will be expanded across the industry over time to benefit all,” continued McKelvey.
This deal between Fossil Group and Google will be concluded this month but neither is willing to say when this secret technology will become public and what exactly does it include. However, both Fossil and Google are highly respected in their respected fields so we hope for some real state of the art smartwatch that will be worthy of sci-fi, or at least features that we only could have imagined until now.