Fossil to acquire fitness wearable tracker company Misfit for $260 millionFossil is making a bigger play in the connected wearable space. The watchmaker, which recently announced its Android Wear-based smartwatch, the Founder, will acquire the fitness wearable tracker company Misfit for $260 million, with the deal expected to close by the end of Fossil's 2015 fiscal year. Misfit has released a number of devices, including most recently the Shine 2. Fossil outlined its plans for integrating Misfit in its technology product plans: Own a technology platform that has already solved many of the hardest problems in wearables, including battery life. Scale Misfit's technology across Fossil, Skagen and a targeted portion of its portfolio of 16 brands in 2016, ultimately accelerating the company's connected accessory roadmap. Expand its addressable market with new distribution channels, new products, new brands and new enterprise partnerships, including music, fitness, healthcare and digital entities. Lead in the connected devices space by harnessin...<br clear='all'/>
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Fossil to acquire fitness wearable tracker company Misfit for $260 million
