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Fossil to Buy Wearable Maker Misfit for $260 Million
Fossil executives have repeatedly spoken about their thirst for a piece of the wearable-tech market.
Fossil has agreed to acquire Misfit, a maker of wearable devices, for $260 million to shore up its technology as it pushes into smartwatches.
Misfit makes a variety of wearable devices, such as fitness and sleep-tracking wristlets and a clip-on smart button that tracks activities. Fossil singled out Misfit's battery-life tech as a particularly appealing component.