Inside the growing tensions that ended in a ‘terrible deal’ for Fossil
In 2015, Fossil Group paid $260 million to acquire Misfit in one of the biggest acquisitions in wearable technology ever. The deal converted to a significant amount revenue for Fossil, with sales of its connected wearables soaring to $300 million in 2017, accounting for 14% of all its watches sold that year.
But back in January, Fossil announced it had sold undisclosed intellectual property to Google for just $40 million, with Google telling us at the time it had acquired a “new product innovation that’s not yet hit the market”.
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