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Fossil plans to acquire Misfit

Fossil Group acquires Misfit
Fossil Q connected accessory
Less than a month after unveiling its first smartwatch, Fossil Group announces its intention to take over the fitness tracker startup in a deal worth $260 million.
Codrut Nistor,
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Fossil Group has been around since 1984  and, although they released the Wrist PDA wristwatch computer 12 years ago, their first smartwatch has been unveiled last month. Now, they move on to take over fitness tracker company Misfit, which has been founded back in 2011.

According to the official press release, "The acquisition will enable Fossil Group to expand its addressable market, offering consumers both traditional timepieces and fashionable connected accessories." By joining Fossil, Misfit will provide a scalable app/cloud platform, native wearable technology, an experienced team, as well as a rich portfolio of products.

The deal has been signed and, since it is subject to regulatory approval and customary closing conditions, it should complete before the end of the fiscal year 2015. The purchase price announced is $260 million in cash and bank debt, transaction costs included. For more details, please check the press release below.

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Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5427 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
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Codrut Nistor, 2015-11-13 (Update: 2015-11-13)