Fossil acquires wearables company Misfit for $260 million

Fossil Group has announced that it will acquire wearable maker Misfit for $260 million (Source: Misfit)
Fossil Group has announced the acquisition of Misfit, the wearable fitness tracker-maker. Misfit is the name behind popular Shine 2 fitness tracker, which lasts more than 6 months on a coin battery.
Fossil’s acquisition comes close on the heels of Swiss watchmaker Tag Hueur’s foray into the smartwatch arena. Tag Hueur’s Connected smartwatch cost $1500, runs An