Breaking News Bar
posted: 3/29/2014 8:05 AM

Intel buys fitness tracker maker Basis

hello
Success - Article sent! close
 
Associated Press

NEW YORK -- Chipmaker Intel has bought Basis Science, the startup behind the popular fitness tracker by the same name, for an undisclosed sum.

The deal, announced Tuesday by Santa Clara, Calif.-based Intel Corp., comes as the still-nascent market for wearable gadgets is heating up. So far, a lot of these gadgets are fitness and wellness trackers. This includes the Basis band, which tracks users' activity level, heart rate, sleep patterns and other data.

Just last week, Google released a version of its Android software tailored for high-tech watches and other wearable devices.

Basis Science Inc. CEO Jef Holove will now be general manager at Intel's new devices group. The Basis band will continue to be sold and the company's 60 employees will work on "future wearable initiatives," Intel said.

Intel Vice President Mike Bell said the acquisition provides Intel with an "immediate entry into the market" of wearable devices and he praised the "deep expertise" that Basis has in the area. The Basis band tracks more data than many of the competing fitness bands out there.

"Simple pedometers with lights on them aren't that interesting," Bell said.

Holove, meanwhile, said the move gives Basis access to Intel's resources at a time when there's "a lot happening" in the wearable technology market.

Intel's stock rose 2 cents to $25.48 in extended trading after closing up 34 cents at $25.46.

Share

Interested in reusing this article?

Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.

The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.

Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Name * Company Telephone * E-mail *

Message (optional)

Success - Reprint request sent Click to close
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here