Intel Buys Wearable Computing Manufacturer
Published on: 26th Mar 2014
Note -- this news article is more than a year old.
US semiconductor giant, Intel has bought a wearable electronics device manufacturer, Basis Science for an undisclosed amount, that is thought to be in the region of USD100 million.
Basis Science is best known for its health-tracking device, the Basis Band, which monitors the user's heart rate and calorie-burning amongst fitness fans.
The company said that it will continue to sell the Basis Band and will still support the product following its acquisition by Intel.
The San Francisco based start-up will be merged with Intel's existing new devices division which is focusing on the emerging wearable computing market. Basis' current CEO, Jef Holove will take over running the Intel division.
Intel vice president for the New Devices Group said: "The acquisition of Basis Science provides immediate entry into the market with a leader in health tracking for wearable devices."
The wearable computing market is estimated to have been worth around US$4 billion in revenue last year, and is expected to double by 2018.