Confirming rumours that were circulating at the beginning of this month regarding Intel purchasing smartwatch maker Basis Science, Intel has today officially announced that they have indeed now purchased the company.
The price paid for Basis Science is thought to be around 100 million according to the Tech Crunch website, but details of the deal have not been divulged by either party at the current time.
Impact on the Wearable Technology Market
This acquisition marks a significant move by Intel into the wearable technology market. Basis Science is known for its advanced health-tracking smartwatches, which offer features such as heart rate monitoring, sleep analysis, and activity tracking. By acquiring Basis Science, Intel is positioning itself to compete more aggressively with other tech giants like Apple, Samsung, and Google, who have already made substantial inroads into the wearable tech space.
Basis Science explains on their website: “Basis will be an integral part of Intel’s new devices group. So, if you’re a user of our product or partner, it means you will see continued innovation from Basis while still staying true to our mission.
If you are a current customer of Basis, while the Intel deal constitutes a transfer of ownership and control, we continue to abide by our privacy policy, respecting all your data. We will also continue to be your source for customer support, software updates and other aspects of the product.”
Future Prospects and Innovations
The acquisition is expected to bring about a wave of new innovations in the wearable tech industry. Intel’s resources and technological expertise combined with Basis Science’s specialized knowledge in health-tracking could lead to the development of more sophisticated and user-friendly devices. For instance, we might see smartwatches that offer more accurate health metrics, longer battery life, and better integration with other smart devices.
Moreover, Intel’s entry into the wearable tech market could spur further competition and innovation among other tech companies. This could result in more choices and better products for consumers. For example, we could see advancements in wearable tech that go beyond health tracking, such as smartwatches that can control smart home devices, provide augmented reality experiences, or even offer advanced security features.
For more information on the new Intel acquisition jump over to the TechCrunch for details and confirmation of the purchase.
Source: TechCrunch
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