Intel Buying Smartwatch Maker Basis: Report
The chip maker reportedly will pay between $100 million and $150 million for a company that sells a health tracker that's worn on the wrist.Intel, which made a splash at the 2014 Consumer Electronics Show in January, reportedly is buying smartwatch maker Basis Science. News site TechCrunch, citing unnamed sources, said the giant chip maker is acquiring Basis for between $100 million and $150 million, a move that comes after reports surfaced late last month that Basis officials were talking with a range of potential buyers, including Google and Apple. Basis has created the B1 health tracker, a Bluetooth-enabled smartwatch device that tracks a user's heart rate throughout the day, detects their body movements, shows changes in sweat patterns to help track workout intensity and monitors body temperature. The data can be synced via mobile apps to a user's Apple iPhone and iPad or Android-based smartphones and tablets. The company recently released the 2014 edition of the device, which sells for $199. Under CEO Brian Krzanich, who took over the top spot in May 2013, Intel has been more aggressive in its efforts in the mobile device space. The company is accelerating the development of its low-power Atom platform as it looks to take on ARM and its range of chip-making partners, including Samsung, Qualcomm and Texas Instruments.
Intel also is targeting new markets, such as the Internet of things and wearable devices. In September 2013, company executives unveiled the Quark line of processors, which are smaller and more energy efficient than the Atom systems-on-a-chip (SoCs) and are aimed at such new markets. At the Consumer Electronics Show (CES) in January, Krzanich showed off a range of reference designs for wearable computing devices, from smart earbuds and a smart headset to a smartwatch and a device for baby clothes.