VietNamNet Bridge – World-famous watchmaker Fossil has spent $260 million to acquire a manufacturing health monitor and analyzing devices firm called Misfit Wearables, run by a Vietnamese-born CEO.

Sonny Vu, the co-founder of Misfit.

Misfit Wearables was established in 2011, and specializes in manufacturing wrist health monitoring sensors integrated with smartphones.

One of the three founders of the company is a Vietnamese-born businessman named Sonny Vu. With a total investment of up to $63 million, Misfit has over 220 employees in the US, HCM City and China.

In the watch market, Apple Watch has reaped great success recently with the integrated watch tracking health and sleep. Fossil plans to integrate Misfit technology into its watch products.

The $260 million acquisition of Fossil has caught attention because this is the first time a traditional watch brand has decided to change by using this new technology.

Fossil sells about 50 million watches and accessories in stores in 150 countries.

PV