Intel buys fitness tracker maker BasisMarch 25, 2014 @ 2:48 pm
NEW YORK (AP) -- 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.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Seattle's beleaguered tunnel project earns a spot atop a list of 11 'highway boondoggles'
'No War on Cars'
New head of Seattle DOT on controversies, congestion & the battle between bikes and cars
10 people you can't escape at Oktoberfest
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.