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Intel finalises acquisition of Basis wearables firm

We first heard about Intel's acquisition of Basis at the start of the month, and the deal has now been signed and sealed.

Intel didn't declare how much it forked out to snaffle Basis, although previous rumours have indicated a figure of around $100 to $150 million (£60 to £90 million).

If you've not heard of Basis Science, to give the company its full name, it's a wearables firm which produces the Basis band (pictured), which it claims is the most advanced health-tracking device out there. It takes all manner of physiological readings with the idea being to monitor your health in terms of fitness, and also sleep, stress and so forth.

The acquisition won't change the Basis band, Intel notes, and it will continue to be sold and developed by Basis. However, the Basis team will, of course, be working on further wearables projects in the future in conjunction Intel staff.

Intel has purchased the company to help it push further on with wearables, a direction it firmly stated it was heading in at CES back at the beginning of the year. At the show, Intel unveiled its always-listening earpiece Jarvis, which can be given commands Siri-style, and the Edison chip which has a wide range of potential applications when it comes to turning anything into a "smart" device.

Mike Bell, VP and general manager of New Devices at Intel, commented: "The acquisition of Basis Science provides immediate entry into the market with a leader in health tracking for wearable devices. 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."