Google is buying some new smartwatch technology from the Fossil Group, the two companies have revealed that the deal is worth $40 million.
Part of the team from the research and development group at Fossil will join Google. The technology that Google has purchased has not been revealed as yet, although it apparently is “new product innovation that’s not yet hit the market,” according to Greg McKelbery from Fossil.
Background of the Acquisition
The acquisition is particularly intriguing given Fossil’s history in the wearable technology market. Fossil has been a significant player in the smartwatch industry, especially after acquiring Misfit in 2015 for $260 million. Misfit, known for its sleek and minimalist fitness trackers, brought a wealth of expertise in wearable technology to Fossil. The technology that Google is acquiring is said to have evolved from this Misfit acquisition, suggesting that it could be a significant advancement in wearable tech.
The deal also includes a portion of Fossil’s R&D team, which indicates that Google is not just interested in the technology but also in the talent behind it. This move could potentially accelerate Google’s efforts in the wearable market, particularly in enhancing its Wear OS platform.
Speculations and Future Prospects
While the exact nature of the technology remains undisclosed, there are several speculations about what it could be. Some industry experts believe it could be related to advanced health monitoring features, such as more accurate heart rate tracking, sleep analysis, or even new biometric sensors. Others speculate that it could involve new display technologies or battery life improvements, which are critical areas for wearable devices.
Google’s interest in this technology aligns with its broader strategy to integrate more deeply into the hardware market. The company has been making significant strides with its Pixel smartphones, Google Home smart speakers, and other hardware products. Acquiring advanced smartwatch technology could help Google offer a more cohesive and integrated ecosystem of devices.
Moreover, this acquisition could be a strategic move to compete more effectively with Apple, which has a stronghold in the smartwatch market with its Apple Watch. By enhancing its Wear OS platform with new and innovative features, Google could attract more consumers and potentially gain a larger market share.
It will be interesting to find out what this technology is and exactly what Google has planned for it. As soon as we get some more details, we will let you guys know.
Source Wareable
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