updated 07:58 am EST, Tue March 4, 2014
Health tracker manufacturer reportedly bought by Intel
Intel has picked up health tracker producer Basis Science, beating off competition from Apple and Google, according to a report. The acquisition, yet to be confirmed by either company, is said by multiple sources to be worth $100 million or $150 million, and extends Intel's wearables portfolio from the SD card-sized Edison computer and the combined headset and smartphone combination known as Jarvis.
Sources of TechCrunch claim the purchase hands Intel approximately 7 percent of the wearable fitness tracker market, thanks to the Basis B1. The future of the device is unclear, as Intel typically does not offer devices to consumers, instead opting to provide components to other companies. Intel could feasibly use the Basis B1 and the company's research to offer a basic blueprint to other manufacturers, possibly adding its own technologies in the process.
Basis B1 Carbon Steel Edition
In terms of smart watches and trackers, Intel is already lagging behind an ever-growing list of manufacturers, but the purchase of Basis helps the chip producer in catching up to its competitors. Samsung, Sony, Fitbit, Pebble, Qualcomm, and others already offer wearable devices of some description, with varying degrees of success, with Apple and Google also said to be looking into entering the market with their own offerings.
Basis is said to have received over $30 million in investment, including funds from Norwest Venture Partners, Mayfield Fund, and interestingly, Intel Capital.