Titan acquires a smart devices manufacturer

Titan has acquired smart devices manufacturer-Hug Innovations Corp. to focus on the fast-growing wearable market.

The move would give Titan, an access to Hug’s consumer platform and intellectual property. However, Titan declined to disclose the value of the acquisition.
Titan is planning four to five products in the wearable segment every year.

Apart from smart watches and fitness bands, the company also runs a smart solutions platform that provides service to various industries, including healthcare, manufacturing, utilities, transport, and hospitality. It also operates a gesture-based Internet-of-Things (IoT) platform that it says can be integrated into different devices.

Titan has also launched a smart watch, the Titan Connected X, in Indian market.
Titan originally commenced operations in 1984 under the Titan Watches brand. The company says it is the fifth-largest integrated own-brand watch manufacturer in the world. It operates several brands targeting different audience segments in the watches and jewellery space, including Titan, Fastrack, Tanishq, CaratLane and Mia.

Titan’s acquisition of Hug Innovations is the latest sign of investor and strategic interest in the wearable segment, which has seen a giant leap in popularity because of products from the likes of Apple, Fitbit, and Samsung.