Google Spends $40 Million for Fossil Watch Tech to Fight Apple

Google agreed to acquire smartwatch technology and personnel from Fossil Group Inc. in a bid to boost the search giant’s nascent efforts in the category.

The Alphabet Inc. unit will pay $40 million for Fossil intellectual property, according to a statement from the companies. Additionally, an unspecified number of Fossil’s research and development employees will join Google. Fossil said that 200 people will remain with that division.

For several years, Google has provided free software, called Wear OS, that other companies can use to make their own internet-connected watches. But sales of those devices have lagged well behind the Apple ...