A report by TechCrunch says Fossil has announced plans to sell its smartwatch IP to Google. The deal is reported to be going for US$40 million (~RM164.64 million).
It’s been awhile since they last appeared, but at one point rumours spoke of a Google Pixel Watch. It never happened, but if Google is getting hardware from Fossil, then it will just have to worry about its Wear OS software.
The deal also reportedly related to “a smartwatch technology currently under development.” Part of the deal also involves moving a number of Fossil employees to Google.
Fossil will still retain a 200-personnel strong R&D team, accroding to the report. That said, with the smartwatch IP being sold to Google, the brand will be focusing its resources on its more traditional watches.