Intel (INTC +0.9%) has reportedly acquired Basis, a maker of health tracker wristwatches that monitor a user's activity, heart rate, and sleep patterns. One source tells TechCrunch the purchase price is around $100M, while another says it's near $150.
Basis is estimated to have a 7% share of the health tracker market, putting it behind leaders FitBit, Jawbone, and Nike. Competition is intensifying: Samsung launched a fitness band last week that complements its smartphones, and Apple has reportedly been hiring health/fitness experts to assist with iWatch development.
Intel aims to be a major CPU supplier for the embedded/wearable device market: The company is set to begin shipping its low-power Quark CPU to embedded OEMs, and is also working on related software tools. Competition is provided by Qualcomm and other makers of ARM-based CPUs.
Basis could help Intel provide reference designs to wearable device OEMs, much as the company has historically done for PC OEMs.