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Google Spends $40 Million on Watch Tech to Fight Apple

Key Speakers At Dmexco Digital Marketing Conference

Photographer: Krisztian Bocsi/Bloomberg

Google agreed to acquire smartwatch technology and personnel from Fossil Group Inc. in a bid to boost the search giant’s nascent efforts in the category.

The Alphabet Inc. unit will pay $40 million for Fossil intellectual property, according to a statement from the companies. Additionally, an unspecified number of Fossil’s research and development employees will join Google. Fossil said that 200 people will remain with that division.