Fossil to acquire Misfit for $260 million

Fossil Group, Inc. is definitely serious about wearables as it has announced that it has entered into a definitive agreement to acquire Misfit, Inc. for $260 million.

The announcement came just a few weeks after Fossil introduced its Q series of smart wearables. With the acquisition of Misfit, Fossil aims to expand its product offerings from traditional timepieces to connected wearable devices.

Image: The Fossil Q Grant

Yugatech 728x90 Reno7 Series

According to Fossil, the acquisition will enable the company to:

• Own a technology platform that has already solved many of the hardest problems in wearables,
including battery life.
• Scale Misfit’s technology across Fossil, Skagen and a targeted portion of its portfolio of 16 brands in
2016, ultimately accelerating the company’s connected accessory roadmap.
• Expand its addressable market with new distribution channels, new products, new brands and new
enterprise partnerships, including music, fitness, healthcare and digital entities.
• Lead in the connected devices space by harnessing the power of a world-class software and hardware
engineering team spearheaded by Misfit Founder, Sonny Vu.

Fossil is expecting to close the acquisition before the end of fiscal 2015 for the purchase price of $260 million.

source: Fossil Group

Avatar for Louie Diangson

This article was written by Louie Diangson, Managing Editor of YugaTech. You can follow him at @John_Louie.

2 Responses

  1. Avatar for EASY E EASY E says:

    Aside from casio, all my other wristwatches are from Fossil. Sana makayanan ng bulsa ko mga smartwatch nila hehe

  2. Avatar for elj elj says:

    Wow! this news sounds Good! Fossil getting into the mix with a reputable Misfit.

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