Soon after the acquisition, Google, really Google X, started working with Motorola on a new watch, prototyping it on existing hardware (Motoactv?). Within a few weeks, the whole thing got cancelled. Not sure if that was because of the Samsungs of this world complaining or because of government agencies.

Source: I was supposed to run the dogfood program in the NYC office. I never got the watches, but somewhere I still have the USB extension cords and the (then quite fancy) chargers with dual USB ports, one for your phone and one for the watch.