Palo Alto – November 20, 2015 – 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."
The Cooley team advising Misfit was led by Frank Rahmani and included Tali Sealman, Alex Kassai and Ian Shannon.
Critical support for the transaction was provided by Renee Deming and Justin Ho (compensation and benefits); Scott Weston (patent litigation); Anne Peck (trademark/copyright litigation); Wendy Brenner, Greg Tenhoff and Selin Akkan (employment and labor); Mark Petry and Jackie Bell (technology transactions); Buff Miller and Amanda Pacheco (tax); and Francis Fryscak and Sarah Swain (antitrust and competition).
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