Intel pays between $100 and $150 million for Basis, a smartwatch manufacturer

Back at CES 2014, CEO Brian Krzanich announced that Intel is determined to enter the market of wearables by releasing a smartwatch and a smart bracelet later this year. Well, it seems that the company is pretty serious about this, as it just acquired Basis, a smartwatch manufacturer. Reportedly, Intel paid between $100 and $150 million.

Basis is mostly popular for the Basis B1 Health Tracker smartwatch, a health-centric wearable gadget. It comes with lots of sensors that monitor various body functions of the user, such as the heart rate, the temperature of the skin, the sweat perspiration, and even the sleep patterns. The Basis B1 Health Tracker wearable is touted as being one of the most accurate fitness-oriented wearables when it comes to collecting data.

Intel's own wearable is currently being developed and its release date is yet unknown. Still, Brian Krzanich showed a prototype of Intel's homebrewed smartwatch at CES earlier this year. Intel's wearable will have its own connectivity and users won't need to tether it to a smartphone. In addition, the upcoming smartwatch will support geofencing (location-based notifications). Intel's smartwatch will most likely borrow some features from the Basis B1.

As we already told you, rumor has it that Microsoft, Google, Apple, and Samsung were also interested in purchasing Basis.

You can read our full review of the Basis Health Tracker wearable here.

source: Wearable World News via AppleInsider