Former Nokia executive buys connected watch business from Meta Watch

Meta Watch announced that a team of investors led by Juha
Pinomaa, former president of Suunto and a former Nokia executive, acquired the
Meta Watch branded connected watch business and related IPR assets from Fossil
Joining Pinomaa as investors and key managers are Bill Geiser and David
Rosales, who previously led Fossil’s Watch Technology Division.

“Over the next 10 years billions of people will
carry smart phones changing how consumers live and creating new opportunities
and markets for connected watches and other wearable devices. Acquiring Meta
Watch not only gives us a head start in this emerging growth market, it brings
us the industry’s most experienced management team who have been designing and
shipping connected watches since 2006,” said Juha Pinomaa, chairman of
Meta Watch.

“We are very excited about the opportunities ahead,
as initial shipments of the Meta Watch development system are now underway. Our
unequalled experience in this new category will allow thousands of mobile
application developers to quickly and easily extend applications to the wrist,
helping consumers to stay connected and to stay in style when they are really
mobile and on the go,” said Bill Geiser, CEO of Meta Watch.

Meta Watch will be based in Dallas, TX. The company will
also open an R&D center in Espoo, Finland to capitalize on the rich history
of Finland-based innovation in wrist-top computing and mobile devices.

By Team
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