Basis Acquired By Intel For Rumored $100 Million

2014-03-05_12-04-13

Basis Science has been acquired by Intel for a rumored $100 to $150 Million according rumors circulating within the tech industry this week. Basis launched its only product, the B1 activity tracker, in 2013. The B1 tracker was the first activity tracker that could continually track heart rate, perspiration, and temperature through biometric monitoring. Steps taken and sleep activity was also monitored with the Basis B1. Within a year of launch, Basis had captured seven percent of the activity tracker market.

Since it’s launch, Basis has raised $32 million in VC funding. Norwest Venture Partners originally backed Basis in 2011 for a $9 million Series A, and since Basis has added Mayfield Fund, DCM, Stanford University, and others. In October 2013 the company closed an $11.8 million Series B, led by Intel Capital.

The activity tracker vendor has been shopping itself around for several months. There were reports from as recently as last month that suggested it was in discussions with both Apple and Google but with a sub-hundred million price tag. Microsoft and Samsung were also rumored to be considering a Basis acquisition.

In the end, Intel has won the courting dance with Basis. The acquisition makes sense given Intel’s recent interest in entering the wearables market. During CES 2014, the company announced that it would abandon smartphones and focus heavily on increasing its presence in the wearables market.

During the event, Intel unveiled its initial line of wearables products. First was a Bluetooth earpiece called Jarvis that is always on, synched with a smartphone, and waiting to process Siri-like voice commands. Intel also unveiled a smartwatch prototype that works independently of a tethered smartphone. It has a built in cellular connection and a GPS. Intel also demonstrated a pair of new ear buds that will play music and simultaneously monitor heart rate.

Beyond the handful of new wearable technologies unveiled at CES 2014, Intel also introduced a new fully functional Pentium-class PC built in the form factor of an SD Card. Inside the card is a dual-core processor, RAM, flash storage, and WiFi and Bluetooth radios. Called Edison, Intel’s idea behind the card is to deliver a chip that can be used to make everything smart and usher in an era of “The Internet of Things.”

Given Intel’s pivot toward wearables and connected technologies, Basis will likely have found a comfortable new home and will likely take center stage in Intel’s new wearable product portfolio.


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