Tech giants, Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) are poised to compete against each other to acquire Basis Science, the maker of health tracker smartwatch.
According to a report from TechCrunch, Basis Science is trying to sell itself, and recently engaged in discussions with iPhone and iPad maker, and the search engine giant regarding a potential sale based on information from people familiar with the situation. Microsoft Corporation (NASDAQ:MSFT) and Samsung Electronics Co. Ltd (KRX:005935) were also mentioned as potential buyers.
According to the sources, Basis Science will probably sell itself within the “sub-hundred million” price range for its investors to make a small profit from their investments in the company.
Some investors including Northwest Venture Partners, Mayfield Fund, and Intel Capital provided more than $30 million funding to Basis Science. According to the sources, a round C funding will be an alternative for Basis Science to support its R&D to develop its products.
At present, Basis Science has the most accurate data collection and reporting among the available fitness tracker smartwatches, but its design is the most awkward. Technology industry observers believed that it needs a bigger company such as Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), or Samsung Electronics Co. Ltd (KRX:005935) to help improved its product.
Apple Inc. (NASDAQ:AAPL) is widely rumored to introduce an iWatch. Last year, it had been reported that the iPhone and iPad maker submitted a trademark application for the word iWatch in Japan. The company was recently reported that it was testing alternative power charging methods for its smartwatch.
Samsung Electronics Co. Ltd (KRX:005935) was first to introduce its Galaxy Gear. The South Korean electronics company is expected to release its Galaxy Gear 2 along with a health and fitness wristband this year.
Google Inc (NASDAQ:GOOG) was reportedly developing its own smartwatch, and technology observers speculated that it is the front runner to acquire Basis Science. The search engine giant recently made significant acquisitions including Nest Labs, the maker of smart thermostat and smoke, carbon monoxide detector and SlickLogin, a sound authentication startup.
Damon Miller, a representative from Basis Sciences told TechCrunch that is is a policy of the company not provide comments regarding speculations. Miller also said, ”Our focus is on building the most advanced health tracker on the market.”