Intel confirmed today that it has acquired Basis Science, maker of a wearable health-tracking device, for an undisclosed price. The deal was rumored to be in the $100 million to $150 million range.
The trend underscores the momentum behind wearable health-tracking devices and Intel’s own interest in supplying both the components and consumer products for a new generation of sensor-based computing devices.
Basis Science makes the Basis band, an advanced health tracker that goes a step beyond most wrist-mounted fitness devices (which track motion) by tracking your heart rate, sweat, motion, and sleep. It can use its multiple sensors to tell if you are running, walking, biking, or sleeping. And it can tell if you are in a light sleep, REM sleep, or deep sleep.
Basis has been selling the $200 device, which doubles as a watch, for more than a year.
Intel chief executive Brian Krzanich said at the Consumer Electronics Show that Intel isn’t just about chips anymore. It will also design and sell products in the digital health, internet of things, and fashion markets. The deal with Basis accelerates that plan.
“We get immediate entry into the market with an experienced team that has one of the leading products in the market,” said Mike Bell, vice president at Intel. “One of the really exciting things from my perspective is that, as we build software and services for this market, this gives us access to real information from someone who is already in direct contact with users.”
Jef Holove, chief executive of Basis Science, said in an interview,”You can imagine that being part of this family gives us access to resources that we only dreamed of as a starup.”
Beyond selling a health-tracking watch, Basis differentiates itself by processing the data that the device produces, so it can provide analytics to customers on its web site. For instance, you can see exactly how much walking or sleeping you’ve done in a day. And Basis sets goals for you to continuously improve, and big data so that you can get a better understanding of your overall health.
“We are thrilled,” Bell said.