Fossil snatches up wearables company Misfit
Watchmaker Fossil is finally getting serious about smartwatches, and last month introduced a lineup of new connected devices including fitness trackers, a notification watch, and a full-on Android Wear model. Together those all make for a good start, but what’s next for the company? If you had any doubts that Fossil was interested in continuing to move forward with its work in connected wearables, wonder no more, as today Fossil announces its acquisition of smart-device company Misfit.
We checked out the latest wearable from Misfit just a few weeks back, as the manufacturer launched the Shine 2 – an unusual model that looks like a watch from afar, but packs a feature set much more in line with fitness trackers. It fit right in with the company’s other devices, all generally restrained models that concentrate on doing a few things with a little style, rather than drowning the user in options and features.
Considering Fossil’s similar interests with its new products like the Q Reveler and Q Dreamer, this Misfit acquisition sounds like it makes a good amount of sense for the company. In its announcement, Fossil talks about how Misfit can give it a head start on future wearable development, with Misfit having already tackled problems key to connected hardware design, like battery life.
All told, Fossil’s paying about $260 million for Misfit.