According to reports, Basis Science is in talks with major mobile companies in selling itself for less than $100 million and has been negotiating with Apple and Google since the past one week with indications of possible acquisition by one of them shortly. Apple and Google are lining up to be the potential buyers of Basis Science, the maker of health tracker, smartwatch. Apple, it is rumored, will be launching its iWatch somewhere later this year, an application which has been named Healthbook, and will serve as a mediator between the wearable along with the iPhone 6 which will help to monitor the users’ vital signs like the heart rate, blood pressure, glucose levels and hydration levels.
The prices that have been quoted for this fitness focus startup, is perhaps less than $100 million. Basis so far has raised over $30 million by way of funds from investors like Norwest Venture Partners, Intel Capital and Mayfield Fund.
As per Cnet, it is reported that Basis would be on the market just months after San Francisco startup raise $11.75 million with addition funding to close out its Series B at a total of $23 million with Intel Capital which will come on board along with Stanford University.
Smartphone monitor with alarms and alerts
The Basis smartwatch is a health tracking device with sensors that is capable of detecting the user’s motion, calorie expenditure, sleep cycle, changes in skin temperature, perspiration level besides other vital signs. The Smartphone application has the capabilities to collect data through its sensors offering analysis based on various metrics.
The company which takes over Basis will have access of the technology as well as the patents which could go a long way in strengthening the portfolio of the wearer and the iWatch which is probably being released later this year will accurately monitor vital stats, sending off alerts and alarms whenever necessary.
Besides Google and Apple, Samsung and Microsoft have also been lining up, and after the unpopular Galaxy Gear, Samsung has not given up hope and has been working on the Gear successor. Like the iWatch, the Galaxy Brand is also making headway at fitness freaks and athletes.