Fossil watches snaps up fitness-tracker maker Misfit

Traditional watchmaker plunges into the wearable technology market with new fitness tracker power and smartwatch launches

Traditional watch manufacturer Fossil Group has acquired US fitness-tracker and connected device maker Misfit for $260m (171m), illustrating just how keen watchmakers are to get into the wearable technology market.

The move will see Misfit's technology, which includes accelerometer-based fitness tracking, connected lights and bed-based sleep trackers, integrated into Fossil's watches across its 16 brands, including Fossil and Skagen.