Intel keeps all employees
Intel coughed up some money this week to make a big purchase of a smaller company in the wearables market. The company that Intel bought is Basis Science reports ABC News. The company makes a wearable fitness and health tracking band called the Basis band.
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In the past Intel has been specific in saying it only wanted tech and talent with its purchases and had no need to be in the hardware business. That seems to be changing as Intel has said that it will continue to sell the Basis band and service sold models though existing channels.
Former CEO of Basis Science Jef Holove will be the general manager of the new Intel devices group. Intel is also keeping the 60 workers that were at Basis Science before the purchase. Those workers will continue to work on future wearable initiatives.
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Intel says that the purchase gives it "immediate entry into the market." Intel VP Mike Bell also noted that Basis has "deep expertise" in the wearables market. Holove says that the sell of Basis to Intel will give the company access to resources, which are important with a lot happening in the wearables market. Intel wants to have chipsets and other tech and to make reference hardware to let partners know what can be done with its products. There is no indication of when we might see new products result from the purchase.