Basis Science, maker of the Basis Health Tracker Watch, has been acquired by Intel for a price somewhere in the region of $100 to $150 million. Though nothing has been confirmed officially (as of this writing), a recent report cites details provided by reliable sources.
We had wondered if Apple or Google might have taken the plunge and purchased Basis Science, back when news of a potential acquisition first surfaced online. Samsung and Microsoft were also rumored to have been interested in purchasing Basis, though at the time we heard that a price somewhere in the “sub-hundred million category” had been set on the company.
Now, in a recent report from TechCrunch it's claimed that Intel has purchased Basis Science, however sources are disagreeing on the price. One claims $100 million, while another argues that $150 million will be paid for Basis; either way, it's more than the “sub-hundred million” figure we'd previously expected.
Basis Science holds seven percent of the market with its Basis Health Tracker Watch, and the device has been said to provide the most accurate readings of all major fitness trackers. But this doesn't mean Intel is going to dive head-first into the consumer electronics industry, as TechCrunch explains:
Intel likely doesn’t have aspirations to compete in the consumer electronic marketplace; the company wants to sell chipset platforms. But by acquiring Basis, it gains access to a team that has built one of the most powerful and comprehensive wearables to date, which it then can set upon its own designs.
Both Apple and Google are rumored to be entering the wearables market later this year, with the Cupertino, Calif. company expected to launch an iOS-connected “iWatch” product. The smart watch should offer users a number of iPhone features while also including health and fitness functionality; an iOS 8 app called “Healthbook” is rumored to store and present data collected from Apple's iWatch.
Shipments of so-called “wearables” are expected to boom in 2014, and this will be helped in no small way by an Apple-made smart watch. We'll keep you updated with further information as we receive it.
In the meantime, see: AppAdvice International: Apple's Workforce In China, AT&T's Mobile Share Plans, Apple's CarPlay Doesn't Integrate With Pandora, But Support Could Be Incoming, and Uber Updated With Push Notifications For Surge Pricing And PayPal Integration In UK.