Google acquired Los Altos, California-based smartwatch maker WIMM Labs last year, revealing its keen interest in developing wearable tech gadgets.

Samsung and Apple aren't the only tech giants seriously considering the development of their respective smartwatches, Google has similar plans too. In a latest report from GigaOM, Google reportedly purchased the smartwatch making firm WIMM Labs last year, the same time when the watch maker shut all its services including the sale of its own, developer-centric smartwatch, WIMM One.

Last summer, WIMM Labs posted a thank-you message on its site after it deleted all of its Twitter accounts and stopped sales of its smartwatch. The mysterious message on the site read:

"During the summer of 2012, WIMM Labs entered into an exclusive, confidential relationship for our technology and ceased sales of the Developer Preview Kit (...) We'd like to thank all of our developers for their interest and willingness to experiment with our platform and look forward to exciting advances in the wearable market."

Earlier in June, rumors surfaced that Google was working on an Android-based smartwatch without any specific details. At the time it was difficult to comprehend but with the latest report from GigaOM, it all makes sense.

According to the report, WIMM Labs' employees are working with the Android team instead of its Google X one. It is good news for consumers as they will not have to wait several years before the product is actually launched in the market, which would be the case if it was in Google X labs.

With the growing interest in wearable gadgets, more competition will definitely bring innovative technology for the devices. Samsung is set to launch its own Gear smartwatch September 4 and rival Apple is reportedly eyeing a 2014 debut.