Fossil Group to Acquire Misfit for $260 Million
On November 12, 2015, Fossil Group, a global company specializing in consumer lifestyle and fashion accessories, announced that it has entered into a definitive agreement to acquire Misfit, an innovator in wearable technology and connected devices. The deal is valued at $260 million. Wilson Sonsini Goodrich & Rosati is advising Fossil Group in the transaction.
According to a Fossil Group press release, the acquisition of Misfit will enable Fossil Group to expand its addressable market, offering consumers both traditional timepieces and fashionable connected accessories. Misfit brings to Fossil Group a scalable cloud and app platform, a world-class software and hardware engineering team, a native wearable technology brand, and a pipeline of innovative products. Fossil Group expects the acquisition to close before the end of fiscal year 2015, subject to customary closing conditions and regulatory approval.
The WSGR team representing Fossil Group in the transaction includes:
Privacy and Data Protection:
Myra Sutanto Shen
Employee Benefits and Compensation:
For more information, please see Fossil Group's press release.