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Fossil to sell smartwatch technology worth $40 million to Google, shares rise

Technology

Fossil to sell smartwatch technology worth $40 million to Google, shares rise

Reuters - by Nivedita Balu in Bengaluru

(Reuters) - Fossil Group Inc said on Thursday it would sell its intellectual property related to a smartwatch technology currently under development to Alphabet Inc's Google for $40 million, sending the watchmaker's shares up as much as 11 percent. The sale will see a portion of its research and …

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