Misfit sale to Fossil Group

Cooley is advising Misfit on its definitive agreement to sell to Fossil Group for approximately $250 million. The acquisition is expected to close before the end of 2015, subject to customary closing conditions and regulatory approval.

Misfit is an innovator in wearable technology and stylish connected devices. Fossil is a global design, marketing and distribution company that specializes in accessories. According to Fossil's press release, "the acquisition 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."

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