Fossil

Google and watch marker Fossil on Thursday announced that Google would be acquiring smartwatch-related intellectual property and personnel from Fossil. The technology is currently under development and will only be used for future products. The acquisition means that Google now has IP and developers that will help the company more directly address the smartwatch and broader wearables industries.. Under the terms of the deal, Google will pay Fossil $40 million for IP that, unusually enough, has yet to see the light of day. As part of the agreement, some of Fossil’s engineers will also join Google to support the IP transfer, but the watch company will retain more than 200 R&D staff members to continue developing products and technologies. “The addition of Fossil Group’s technology and...