Tech content trusted by users in North America and around the world
6,686 Reviews & Articles | 45,703 News Posts

Intel drops $100-$150 million on wearables firm Basis says source

Intel spent as much as $150 million to purchase fitness wearable firm Basis to beef up its wearable tech portfolio (NASDAQ:INTC)
| Business, Financial & Legal News | Posted: Mar 4, 2014 5:42 pm

One of the hottest categories in the tech world today is wearable devices. There are a number of wearables on the market ranging from smartwatches to glasses like Google Glass. With wearables set to grow significantly, a new rumor is circulating that Intel has made a big purchase to get more wearable tech in its portfolio.

 

intel_drops_100_150_million_on_wearables_firm_basis_says_source_4532

 

Intel is rumored to have purchased a company called Basis. Basis makes wearable watches that record fitness activities for the user. Basis was rumored to have been shopping itself around with Apple and Google among the interested firms.

 

The purchase has reportedly been made by Intel with one source saying the deal was worth $100 million. A different source claims that Intel paid closer to $150 million for Basis. Basis currently has about 7% of the wearable fitness device market.

 

Intel is said to have no plans to enter the hardware market and sell devices on its own. Rather, the source says Intel purchased Basis to beef up its chipset portfolio for the wearables market and will use the team from Basis and its tech to build better chipsets to sell to other firms.

NEWS SOURCES:Techcrunch.com

Related Tags

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Subscribe to our Newsletter
Or Scroll Down