Fossil, your favorite watch maufacturer from the early 2000’s, has purchased smart wearables manufacturer Misfit for $260 million.
“This event was off the charts”
Gary Vaynerchuk was so impressed with TNW Conference 2016 he paused mid-talk to applaud us.
Fossil expects the deal to close before the end of fiscal year 2015. Misfit CEO Sonny Vu will act as president and chief technology officer of connected devices for Fossil, and will sit on the company’s executive leadership team.
What this all means for consumers is unknown, but it seems we’ll soon have mid-range watches with some fitness tracking capabilities. Fossil says it wants to “scale Misfit’s technology across Fossil, Skagen and a targeted portion of its portfolio of 16 brands in 2016.”