Intel on Tuesday announced the acquisition of Basis Science Inc., a startup comprised of 60 employees best known for its Basis health tracking band. Terms of the deal weren't disclosed although earlier reports suggest the chip giant may have had to pay out around $100 million to beat out bids from the competition.
Jef Holove, former Basis Science CEO and now a general manager in Intel's New Devices Group, said the acquisition brings access to Intel's resources, expertise and global scale. He added that the Basis Science team will remain intact and their Basis device will continue to be sold and supported through existing channels.
Up to this point, the company's wearable has been powered by chips from Texas Instruments.
For Intel, the acquisition no doubt accelerates their wearable products focus as was first evident late last year with the announcement of Quark, an open architecture SoC platform designed with wearables and the Internet of Things in mind. It's almost a given that future versions of the Basis band will utilize Intel hardware.
Mike Bell, Intel vice president and general manager of the company's New Devices Group, said the acquisition provides immediate entry into the market with a leader in health tracking for wearable devices. As Intel accelerates their position in wearables, they will build upon this foundation to deliver products that bring people greater utility and value, Bell noted.
Basis launched in 2011 and reportedly spoke with Apple, Google, Microsoft and Samsung before inking a deal with Chipzilla.