Rumor: Intel to Acquire Wearable Tech Company Basis for US$100 Million
According to TechCrunch, Intel has bought Basis for US$100 million. The alleged target of acquisition is a San Francisco-based startup that makes wearable health trackers.
To some observers, Intel’s move may signal its intentions to tackle the wearable tech market with its own devices. However, TechCrunch has noted that this might not be the case, as Intel seems to be more interested in selling chipset platforms for wearables. Hence, by leveraging on the expertise of Basis, Intel hopes to leapfrog competitors like Qualcomm, Texas Instruments and STMicroelectronics that collectively command the lion’s share in the supply of sensors to wearables.
In CES this year, Intel CEO Brian Krzanich showcased the SD card-sized Intel Edison to outline how the company is now leading the acceleration in the development of wearable technology innovation by actively empowering developers with tools and reference devices. Therefore, observers can see the basis in this US$100 million deal.