We are waiting for interesting wearable gadgets from the union of Misfit and a well-known watch manufacturer.
Using Apple as an example, we can see that all sorts of mergers and acquisitions are a great way not only to get a large user base. This is how companies attract talented engineers and developers to their ranks and get the opportunity to develop their business in the direction they are interested in. This is the strategy adopted in Fossil Groupby purchasing Misfit, the maker of Shine’s glamorous (and highly functional) fitness trackers.
Fossil is known in its own right as a manufacturer of trendy accessories and watches. Not so long ago, she also released her own smart watch based on Android Wear, which turned out to be little noticeable among dozens of competitors. The wearable electronics market today is very densely packed with rivals. Accordingly, Fossil management decided to join forces with Misfit in a win-win deal.
The purchase cost Fossil $260 million, and along with the Misfit user base, the company also acquired an advanced team that not only works on creating cool activity trackers, but also manages a cloud platform to collect and analyze all data from Misfit Shine. For Misfit, the deal opens up new opportunities for development with the support of a well-known brand. After all, the competition in the wearable accessories market is quite high, and manufacturers have to offer the public really worthy and multifunctional devices in order to beat their rivals. [Engadget]