Computing giant Intel has reportedly acquired Basis in a deal worth between $100 million and $150 million.
Basis is a health tracking company born in Vancouver. Last year it raised $11.75 million in a Series B funding round, which included an investment from Intel Capital. Basis, which makes health trackers to improve fitness and sleep, has raised a total of more than $23 million and is based in San Francisco.
The acquisition was first reported on by Alexia Tsotsis at TechCrunch.
According to IMS Research, the wearables market is poised to grow from 14 million devices shipped in 2011, to as many as 171 million units shipped by 2016.
“Wearable computing enables a data-driven approach to managing healthcare and fitness,” said Arvind Sodhani, President of Intel Capital and Intel Executive Vice President, late last year. “By collecting heart rate, skin and ambient temperature data along with movement tracking, the Basis multi-sensor band opens up opportunities for data analytics driving deeper insights into health and personal behavior.”