Facebook offered a final price of $7.30 as opposed to Google's offer of $7.35 per share.
The Fossil Sport has a heart rate sensor, GPS, a microphone and connects over Bluetooth 4.2 low energy.
Fossil Group's shares jumped about 8 percent after making the Google announcement.
The Scallop 2 will be available for purchase in the US by the end of this month.
Android Pay was recently renamed to Google Pay, Android Messages to Messages and Android Wear to Wear OS.
Google Fit on Android and WearOS will start to receive the update by end of this week.
The new Fossil smartwatch comes in two size variants, one with 41mm and one with 43mm dial.
Snapdragon Wear 3100 offers three modes, Ambient Mode, Sports Experiences and Traditional Watch mode.
The smartwatch might be powered by Samsung's native TizenOS and not WearOS as predicted.
The new wearable is expected to be a successor to Gear S3 and may be called Gear S4 or Galaxy Watch.
The three smartwatches are reportedly codenamed "Ling", "Triton", and "Sardine".
The first feature includes smart suggestions. Here the Google Assistant will provide host suggestions whenever a question is asked