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:

Marty Korman
Brad Finkelstein
Doug Schnell
Melissa Rick
Scott Blumenkranz
Phil Wong

Technology Transactions:
Kira Kimhi
Leah Duranti

Privacy and Data Protection:
Matt Staples
Jon Adams

Greg Broome
Myra Sutanto Shen

Employee Benefits and Compensation:
David Thomas
Sriram Krishnamurthy
Mark Cornillez-Ty

Employment Litigation:
Gerard O'Shea
Matt Damm

Intellectual Property:
Stefani Shanberg

Paul Jin
Christopher Williams
Roisin Comerford

For more information, please see Fossil Group's press release.