Intel Corporation (NASDAQ:INTC) reportedly buys wearable tech firm Basic Science for $100 million


Dallas, Texas 03/06/2014 (FINANCIALSTRENDS) – In news that is yet to be confirmed, Intel Corporation (NASDAQ:INTC) is reportedly on a acquiring mode and has acquired one of the new-technology – wearable internet- players, Basis Science, at an estimated value of $100m.

The news report stresses on the new approach Intel Corporation (NASDAQ:INTC) intends to take to remain relevant to the fast changing and growing Information Technology science and business. With Mike Bell as the helm, the company has been very active in exploring the market opportunities for wearable internet and related applications of the same. The key according to the company executives is to be the first-adopter and change-introducer in the market trends.

Intel Corporation (NASDAQ:INTC) has already looked at wearable technology and the likely acquisition of Basis Science is expected to move the company into this niche.

Basis Science holds less than 10% market share in the emerging wearable technology market segment, with its accurate and technology proven fitness tracker.

Intel Corporation (NASDAQ:INTC) is expected to take the platform which Basis Science currently holds and bring it all together on the same scale as the company is known to deliver. This involves the enterprise platforms as well as the semiconductor supplier level.

Intel Corporation (NASDAQ:INTC) with its platform and chipset expertise and the reach it already holds in catering to a diversified global enterprise level consumers, the scope of application of wearable technology is unlimited.

The technology advantage with Intel’s new range of product, post the acquisition would be the availability of devices which are low on power, work well with components, especially motion sensor, embedded controller solutions as well as improved connectivity.

The acquisition is reportedly valued between $100 million and $150 million. Other big players in the wearable market niche include FitBit, Jawbone and Nike. Samsung has been one of the first to offer products already- with the just launched fitness bands which export data to smartphones and Apple Inc is to follow –through with an iWatch which also doubles as a fitness tracking device.