|[March 25, 2014]
Intel Completes Acquisition of BASIS Science Inc.
SANTA CLARA, Calif. --(Business Wire)--
Intel (News - Alert) Corporation today announced that it has completed the acquisition
of BASIS Science Inc., a privately held company and a leader
specializing in wearable device technologies for health and wellness
applications. BASIS Science is also the creator of the Basis band, the
world's most advanced health tracker. The wrist-worn device and web and
mobile service captures physiological metrics such as heart rate to help
people get fit, sleep better and stress less. The financial terms of the
deal were not disclosed.
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 ready to be used by customers in development of wearable
products. Underscoring this point, Intel recently announced several
innovations and initiatves focused on fit, function and style.
The acquisition of BASIS Science accelerates Intel's wearable products
focus and extends the company's capabilities in this area. It also
brings access to new technology, and further expands the leadership team
with people who have a proven track record of innovation in wearable
device technologies for health and fitness applications.
"The acquisition of BASIS Science provides immediate entry into the
market with a leader in health tracking for wearable devices," said Mike
Bell, Intel vice president and general manager 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," said
Jef Holove, former BASIS Science CEO and now a general manager 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. The team will also begin work on
future wearable initiatives, working closely with the broader Intel team.
Intel (NASDAQ:INTC) is a world leader in computing innovation. The
company designs and builds the essential technologies that serve as the
foundation for the world's computing devices. Additional information
about Intel is available at newsroom.intel.com
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