Basis Science, maker of Basis Tracker Health watch, is reportedly looking for a potential buyer among big tech players like Apple, Google, Samsung and Microsoft.
A new player in the rapidly growing wearable tech race, Basis Science is reportedly in the market and is conducting buyout talks with tech giants like Apple, Google, Samsung and Microsoft. These companies are all reportedly working on wearable technology and gadgets. Basis health tracker watch competes with the likes of FitBit in the current market. The company has already approached Google and Apple, TechCrunch reports and possibly held talks with Samsung and Microsoft too.
According to the tech blog, Basis Science is aiming for a "sub-hundred million" dollar price target, which makes the current candidates, with deep pockets and serious interest in wearable tech secure options. Barring a buyout would result in a round C funding, sources revealed.
Basis is backed by investors like DCM, Intel Capital, Mayfield Fund and Norwest Venture Partners. A buyout will offer small returns to its investors who have already poured more than $30 million into the company.
Basis Science skills can be used by any of the aforementioned companies. Apple, for instance, can benefit from the technology used in Basis in the development of its long-rumored iWatch. Google, too, can use the startup's skill sets to speed up the process of developing its own version of wristwatch. The web giant already rules the wearable tech space with its Google Glass, but a smartwatch is yet an unexplored area for Google.
As for Samsung, the Basis health tracker watch can help improve the Galaxy Gear, which has received strong feedback for lack of a lasting battery and some other features. The tech giant, however, is reportedly readying its upgraded Galaxy Gear smartwatch that will be shown at its mysterious "Unpacked 5" event, February 24.
Microsoft could possibly use the technology to build a smartwatch of its own to keeps up with the growing trend of wearable gadgets. The software giant currently has Kinect.
Basis spokesperson Damon Miller said in a statement to TechCrunch that the company was currently focused on delivering the "most advanced health tracker on the market" and had no "comment on rumor or speculation."
