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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Fossil Group Inc | NASDAQ:FOSL | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.8019 | 0.82 | 0.8439 | 0 | 09:00:00 |
From May 2019 to May 2024
By Colin Kellaher
Fossil Group Inc. (FOSL) on Thursday said it agreed to sell intellectual property related to a smartwatch technology it is developing to Alphabet Inc.'s (GOOG) Google unit for $40 million.
The Richardson, Texas, accessories maker said part of its research and development will join Google, adding that it is retaining more than 200 R&D employees.
Fossil said smartwatches have been its fastest growing category in recent years, noting that it has launched smartwatches across 14 of its owned and licensed brands.
The company said it expects to complete the sale this month.
Shares of Fossil were up 8.9% to $18.96 in recent trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 17, 2019 12:55 ET (17:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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