Basis Science now fully belongs to Intel, as it has announced that it has now completed the acquisition of Basis Science, a privately held company and a leader specializing in wearable device technologies for health and wellness applications.The financial terms of the deal were not disclosed.
Basis Science is also the creator of the Basis band, an advanced health tracker. The wrist-worn device and Web and mobile service captures physiological metrics such as heart rate.
Intel is actively pursuing a range of products and initiatives with the goal of accelerating wearable device innovation. The company’s strategy is to create wearable reference devices, SoCs and other technology platforms.
“The acquisition of Basis Science provides immediate entry into the market with a leader in health tracking for wearable devices,” says Mike Bell, Intel VP and GM of the company’s New Devices Group. “As we accelerate our position in wearables, we will build upon this foundation to deliver products that bring people greater utility and value. I’m confident that our collective resources and expertise positions us well for the future.”
“Intel is a great fit for Basis products, employees and consumers,” says Jef Holove, former Basis Science CEO and now a GM in Intel’s New Devices Group. “The acquisition brings access to Intel resources, expertise and global scale as we work together to explore new possibilities of wearable technology. Meanwhile, keeping our existing team intact ensures we can remain focused on our mission of improving the health and well-being of people.”
The Basis band will continue to be sold through existing retail channels. The team will continue to work on its product roadmap and serve its existing Basis band users.