Google paid $40 million for a mystery piece of smartwatch technology from fashion brand Fossil (GOOG, GOOGL, FOSL)
Business Insider -

On Thursday, Google announced a $40 million deal to purchase smartwatch technology from the fashion brand Fossil.

As part of the deal, Google will also acquire part of Fossil's R&D team that currently supports the mystery tech which neither company has given much detail about. 

Fossil exec Greg McKelvey hinted that the deal with Google will result in a "new product innovation that's not yet hit the market." 

Google doesn’t yet make a smartwatch of its own, but the deal could signal a growing...


In related news