The wearable space may be new but it is evolving quite rapidly. Part of that evolution means consolidation as established companies see younger start-ups as a quick way into the market. Case in point: Intel yesterday announced that it has acquired Basis Science, the company behind the wrist-based Basis Health Tracker. It will become part of Intel’s New Devices Group.
The acquisition will help Intel as it moves into the wearables space by designing wearable reference devices, SoCs and other technology platforms. Along with the new technology acquired, Intel will also benefit from the team behind the Basis Health Tracker and their “proven track record of innovation in wearable device technologies for health and fitness applications.”
“The acquisition of BASIS Science provides immediate entry into the market with a leader in health tracking for wearable devices,” said Mike Bell, Intel vice president and general manager of the company’s New Devices Group. “As we accelerate our position in wearables, we will build upon this foundation to deliver products that bring people greater utility and value. I’m confident that our collective resources and expertise positions us well for the future.”
The Basis is a fitness tracker that can capture a range of information including heart rate patterns, motion, calorie expenditure by activity, multiple sleep stages, including REM and even perspiration and skin temperature. The Basis app can then analyze this data to make recommendations on how to improve your lifestyle with better habits. Users can focus on particular areas such as better fitness, better sleep and others.
The Basis band will continue to sell for US$199. The team will continue to support the Basis and its product roadmap. It will also begin working more closely with the Intel team on future wearable projects.
Terms of the acquisition were not disclosed. TechCrunch reports that the deal was valued at between US$100 and US$150 million.
Sources : Intel // TechCrunch