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Intel snags Basis for $100mn to beef up on wearables

Intel has beaten other companies to the punch in the auction for Basis, so the grapevine claims, with the acquisition apparently coming in at around the $100 million (£60 million) mark.

Those whispers, and that figure, come from TechCrunch, although a second source who spoke to TC pegged the deal at more than that – closer to $150 million (£90 million), in fact.

Other companies reportedly interested in Basis were Google, Apple, and perhaps even Microsoft and Samsung (no one important, then).

If you’re not familiar with Basis, and you’re wondering what they do to attract such attention, the company makes wearables – which is one of the next big things in tech (as you’ve probably noticed). Basis makes the health tracker pictured above (the Basis band), which tracks your exercise, sleep patterns, and general health.

Intel, of course, used this year’s CES to mark its intentions to get into wearables in a big way, unveiling the likes of Jarvis (an always-on earpiece listening out for your commands, Siri-style), and its Edison SD card-sized chip which can theoretically turn anything into a smart device (from coffee mugs to baby’s clothes and beyond).

So it’s not surprising that the chip giant would want the Basis team on board to push forward on the wearables front.

Both Google and Apple could doubtless have used the team for their respective rumoured upcoming smartwatches, of course, but it seems Intel was willing to cut the bigger cheque.