Google Going to buy Fossil Tech for $40 Millions
Wear OS is what people love as the commitment from the Google to improve the software and hardware is unmatchable. The company can go to any extent to improve the services with the Wear OS, and now they are ready to buy Fossil Tech for nearly $40 Million. Google agreed to purchase the Fossil Tech, the smartwatch maker for a whopping $40 Million. Both of the companies didn’t share the exact details about the sale, but the Research and Development team of the Fossil is going with the Google.
Fossil does have more than 200 R&D staff members for the Research and Development of the new smartwatches and providing the support for existing ones. Now with this deal, the company is expected to continue the journey from the help of Google. Google is continuously working to improve their portfolio with the focus on the smartwatch industry. The Wear OS being the tiny version of Android made for the Smartwatches, many smartwatch makers prefer the same for their smartwatches. All of the Fossil watches do run on the Wear OS platform, so the company can effectively integrate the platform with the Fossil’s Smartwatch Technology under their wing.
The Fossil Smartwatches are known as the nearest competitor to the Apple Watch, which is the arch-rival of Google. The company is trying every move to outrun the Apple and lead the smartwatch industry, and their tries are not gone unnoticed. Although there is no information shared by both the companies as of now, we only have to assume what they are exchanging except the R&D staff. The entire deal is going to complete by the end of this month. After the news of Google Acquiring a part of Fossil Tech, their Stock rose by up to 8% in the United States markets.