Intel snaps up smartwatch maker for $100m: report

Intel snaps up smartwatch maker for $100m: report

Summary: Intel has reportedly purchased smartwatch maker Basis Science to become part of the firm's arsenal in the wearable device industry.

TOPICS: Intel, Emerging Tech

Intel has reportedly acquired smartwatch maker Basis Science for between $100 and $150 million, adding to Intel's portfolio of wearable devices and sensors.

According to TechCrunch sources, while the exact amount Intel paid is not known, it is believed to be around the $100 million - $150 million ballpark. Basis has secured roughly 7 percent of the wearable fitness tracker market and over $30 million has been invested in to the company by Norwest Venture Partners, Mayfield Fund and Intel Capital.

Basis has one lone product on the consumer market: the Basis Health Tracker Watch. The wrist-based tech includes a health tracker and connection to an online personal dashboard in order to encourage users to incorporate healthier choices within their lifestyles. The watch measures steps taken during the day, calories burned, sleep quality, and physiological metrics like heart rate. New health goals are automatically set and adjusted based on the data.

Intel has made traction within the emerging wearable technology market, showcasing a number of product this year at trade conventions including smart, wearable baby monitors, the Jarvis headset and the Edison smart chip. If the reported acquisition of Basis is confirmed, then this could pave the way for Intel to tap in to smartwatches by using an already-established company with a fair market share and technology already available.

In addition, the smartwatch and its design team could be a platform for Intel to set its own designs and features.

In a Reddit "Ask Me Anything" session last month, Intel CEO Brian Krzanich said that he uses two wearable devices, one which is an "internally developed" product -- revealing that the wearables industry, beyond supplying chipsets, is likely to be of interest to Intel.

Intel has a way to catch up to compete with rivals that have already entered the wearables market with sensors and devices. Qualcomm and STMicroelectronics currently supply a large swathe of the market with sensors, and major firms including Samsung and LG already have wearable devices available. Google is rumored to be considering a smartwatch as part of the next-generation Nexus release.

Topics: Intel, Emerging Tech

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  • Interestinger & Interestinger

    Further proof that industry sees a future for wearable, while the great unwashed public remains distinctly underwhelmed.

    It also seems that Intel is trying very hard to reinvent itself, which may a confession of defeat in it's traditional core business.
    • Agreed

      Agreed, for all the ridicule that Samsung has gotten over the Gear watch, anyone who thinks these things aren't going to be huge in a few years is simply deluded. Once that battery issue is resolved (the thing really needs an honest, full week's charge time) adoption will be swift.
      • Errrrr... I don't think you "agreed"

        Ummm... dsf3g, I think you should re-read the comment you "agreed" with.

        Basically, Heenan73 is saying that NOBODY cares about wearable technology, EXCEPT for the manufacturers. You couldn't be less in "agreement" about the future of wearable technology.
        • Oops

          Oops, you're right. I didn't really read past the first part of his comment.

          So yeah, I disagree. Battery life, as far as I'm concerned is the one obstacle to widespread adoption of these technologies.
      • The battery issue could be easily solved if some company could improve

        on this girl's idea, and then incorporated it into smartwatches.

        Teen Invents Flashlight Powered By Body Heat!

        Imagine that! Body heat is with you everywhere, until you die, then, somebody else can inherit your device, and it will "keep on ticking". ;)
    • Actually, Intel isn't even close to

      admitting of defeat in it's traditional core business, you're just not looking at it logically.

      Just the opposite, in fact - it's traditional core business spurred the growth of all new devices and industries.

      All Intel is showing here that they plan on being part of, and profiting in, the industry it helped create, nothing more.
  • People are blinded by hate of Intel and Microsoft, while ignoring

    the fact THAT, those are the companies driving more innovations in computer and mobile technology than any other company