Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Intel Buys Fitness Tracker Maker Basis

/ Source: Associated Press

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Chipmaker Intel has bought Basis Science, the startup behind the popular fitness tracker by the same name, for an undisclosed sum.

The deal, announced Tuesday by Santa Clara, Calif.-based Intel Corp., comes as the still-nascent market for wearable gadgets is heating up. So far, a lot of these gadgets are fitness and wellness trackers. This includes the Basis band, which tracks users' activity level, heart rate, sleep patterns and other data.

Just last week, Google released a version of its Android software tailored for high-tech watches and other wearable devices.

Basis Science Inc. CEO Jef Holove will now be general manager at Intel's new devices group. The Basis band will continue to be sold and the company's 60 employees will work on "future wearable initiatives," Intel said.

Intel Vice President Mike Bell said the acquisition provides Intel with an "immediate entry into the market" of wearable devices and he praised the "deep expertise" that Basis has in the area. The Basis band tracks more data than many of the competing fitness bands out there.

"Simple pedometers with lights on them aren't that interesting," Bell said.

Holove, meanwhile, said the move gives Basis access to Intel's resources at a time when there's "a lot happening" in the wearable technology market.

Intel's stock rose 2 cents to $25.48 in extended trading after closing up 34 cents at $25.46.

-The Associated Press

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news

Have feedback?

How likely are you to recommend nbcnews.com to a friend or colleague?

0 = Very unlikely
10 = Very likely
Please select answer

Is your feedback about:

Please select answer

Thank you!

Your feedback has been sent out. Please enjoy more of our content.

We appreciate your help making nbcnews.com a better place.