Misfit, formerly Misfit Wearables, the maker of the jewelry-like Shine activity tracker, has partnered with smartwatch-maker Pebble to integrate its algorithms into that company's device. According to a Misfit spokesperson, the deal marks the deepest integration to date for Misfit, which also plans to make an open API available to partners in the future.

The Misfit Pebble app, which runs on the smartwatch, will integrate with Misfit's flagship iOS app, where users can set their goals, track progress and compete with friends. Popular running app RunKeeper was the first application -- of any kind -- to announce an integration with the Pebble smartwatch, soon after the device was unveiled in a record-breaking crowdfunding campaign.

While Misfit describes the partnership as the culmination of a long relationship, Misfit Co-Founder and CEO hasn't always been particularly bullish on the near term prospects for smartwatches. 

"I think most people will not buy smartwatches," Vu said during an on-stage interview at the Launch event last October. "At least not the first couple of generations." Vu then explained that, like smartphones, smartwatches could eventually become a device with mass adoption.

The session's moderator, Jason Calcanis, followed up by asking if Misfit plans to license its technology to smartwatch companies.

"Yes, We are going to... we are trying to make beautiful things and eventually some invisible things [and] we'd like to get our algorithms into some other devices," Vu replied before going on to reveal how much he thought of the Pebble smartwatch.

"When smartwatches come out they are going to have accelerometers in them. They already do," Vu said at the time. "There already are some great smartwatches out there -- like the Pebble, which we love."

Misfit's Shine recently the starred in Apple's "Strength" TV advertisement and the company also just made more Misfit Bloom necklace accessories available to its Shine user base.

While smartwatches are still very much in their infancy, first mover Pebble managed to sell 400,000 devices last year, and the company told Fortune in March that it was on track to double its revenues in 2014. Samsung, Google, and -- according to widely spread rumors -- Apple have all made moves into the smartwatch category with health and fitness tracking as a core focus.