Business, Internet of Things (IoT), Mobile, Wearables

Fossil spends $260M on wearables startup Misfit

Fossil Group announced that they will enter a definitive agreement to acquire wearable startup Misfit. The acquisition thus enables the watchmaker to venture into different areas of wearable products, adding to their lineup. Misfit brings to Fossil Group a scalable cloud and app platform, a world-class software and hardware engineering team, a native wearable technology brand and a pipeline of innovative products. “We have a significant opportunity to add technology and connectivity across our platform of watches and accessories,” said Kosta Kartsotis, chief executive officer of Fossil Group. “With the acquisition of Misfit, Fossil Group will be uniquely positioned to lead the convergence of style

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