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Intel buys wearables firm Basis Science makers of Basis band

Intel has made a purchase that will get it technology and a foothold in the medical wearables market (NASDAQ:INTC)

| Business, Financial & Legal News | Posted: Mar 26, 2014 5:17 pm

The wearables market is booming be it fitness tracking bands or smartwatches. The market will continue to grow as well as time goes buy and technology matures. Intel has reportedly purchases a company called Basis Science that produces a product called the Basis band.

 

TweakTown image news/3/6/36575_5_intel_buys_wearables_firm_basis_science_makers_of_basis_band.jpg

 

The device is a health tracking wristband that is able to keep track of sleep, activity, and more. The terms of the deal are unannounced so it's unclear exactly how much Intel paid. The chipmaker has said that the Basis band will continue to be sold and supported via existing channels.

 

Basis is being wrapped into the Intel New Devices Group and the former CEO of Basis will head that group as general manager. By purchasing Basis, Intel gets access to the health tracking device market straight away. It's interesting that Intel plans to continue selling and supporting Basis hardware.

 

It had said in the last that it didn't want to be in the hardware market. Intel has maintained that it wants technology and to develop reference devices and SoCs that can be used in the development of wearables for its customers.

NEWS SOURCES:Itworld.com

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