Intel Buys Wearables Company Basis Science

Intel on Tuesday announced it has purchased Basis Science, the company behind the Basis Band health tracker.

Terms of the deal were not disclosed, but TechCrunch reported earlier this month that Intel was paying around $100 million for the company. Formed in 2011, Basis has raised a total of $32.3 million. The company's Basis fitness tracker, which sells for $199, tracks sleep, heart rate, calories and steps and syncs with iOS devices and some Android smartphones via Bluetooth.

Intel expressed its commitment to wearables at this year's CES in Las Vegas. CEO Brian Krzanich showed off some wearable computing devices from the company including smart earbuds that can read your heart rate. Intel's hardly the only tech firm chasing the category. Apple is rumored to be working on a smartwatch and Google has just released Android Wear, its platform for developers. Read more...