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Fossil Group to acquire wearable company Misfit

In a surprise move, the Fossil Group announced on Thursday plans to acquire wearable brand Misfit. The Fossil Group told Mashable the deal landed at $260 million, including transaction costs, and will be funded through a combination of cash and bank debt. The news comes more than a year after the Fossil Group revealed it had plans to enter the connected accessory and smartwatch space for all of its brands — a market Misfit already has a strong hold on.
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