Traditional watchmaker Fossil purchases Misfit for $261 million
Watchmaker Fossil is taking another big leap into the wearable market. The company recently announced that it was purchasing Misfit, well-known for its line of simple and beautiful fitness trackers, for $261 million.
As a traditional watch company, Fossil has had a difficult time competing against the new crop of smart devices, including the Apple Watch. Last month, the company unveiled its first true smartwatch, the Fossil Q line powered by Android Wear. Those watches also integrate a number of activity tracking features.
But the purchase of Misfit should definitely give Fossil access to the growing legion of iPhone users looking for wearable devices.
Misfit burst onto the scene back in 2012 with a Indiegogo campaign for its first device – the Shine. Instead of a true screen, the slim and small device featured 12 small LED lights to show your progress toward daily goals. With no screen, it didn’t need recharging, as it was powered by a user-replacable coin cell battery that could last for up to six months.
Users could sync the device to an iPhone and see detailed stats with the companion iOS app. The pictured $99.99 Shine 2 was unveiled in October and features vibrating notifications when you receive a call or text along with other improvements.
Fossil wasn’t specific about its long-term plans for Misfit only saying that it would scale Misfit technology across its watch line in 2016. Misfit founder and CEO Sonny Vu will act as president and CTO at Fossil.
For other recent accessory news and reviews, see: Activeon CX packs a lot of rugged value into a tiny camera, Slow delivery times plague iPad Pro’s Smart Keyboard and Pencil, and Belkin’s Valet Charge Dock is a beautiful, but pricey, way to charge an Apple Watch and iPhone.
