Report claims to reveal what Google paid $40 million to Fossil for earlier this year

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Early this year, Google paid $40 million to Fossil for some of the watchmaker’s Intellectual Property. Fossil executive vice president Greg McKelvey said at the time that because of the deal, a new innovation for the smartwatch market would be released. He went on to say that the IP is “…based on something out of our timeline, it’s new to the market technology and we think it’s a product that has features and benefits that aren’t in the category today.” The technology that Google bought was being developed by Fossil after the latter purchased rival Misfit in 2015 for $260 million. Google …

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