Fossil spends $260M on wearables startup Misfit to bolster smartwatch lineup

November 12, 2015 9:51 PM

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In a bid to address the growing smartwatch market, established consumer wristwatch maker Fossil on Thursday announced an agreement to acquire wearables firm Misfit for $260 million.

The purchase will let Fossil leapfrog costly R&D cycles and accelerate development of products meant to compete with the likes of Apple Watch. The watchmaker just recently dipped its toe into the wearables pool with Q, a line of traditional watches with embedded activity trackers and smartphone conn...

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