Intel reportedly acquires smartwatch maker Basis

Intel has reportedly acquired smartwatch maker Basis for over $100 million, as the chipmaker continues to push into the wearable computing market.

Basis makes the B1 smartwatch which is able to track health metrics like heart-rate, perspiration and skin temperature using a variety of sensors. It is also able to count steps, measure calories burned and analyse sleep patterns using its three-axis accelerometer.

Intel Capital announced it had invested in Basis in October 2013, but the firm declined to comment on whether it has now made an outright purchase.

However, an acquisition has taken place for between $100-$150 million, according to TechCrunch.

The chipmaker outlined its vision to enter the wearable computing market at the start of 2014.

At CES in January, Intel debuted its Edison chip, a PC the size of an SD card reader and announced a $1.3 million prize fund for wearable technology ideas. The developer who comes up with the best concept using Edison will be able to claim $500,000.

Intel also unveiled a Bluetooth-headset reference design known as Jarvis. Once paired with an Android smartphone, you can ask Jarvis to check your messages, set reminders to provide directions. And during his recent Reddit AMA, Intel CEO Brian Krzanich claimed he's been testing wearables, including a device which he wasn't able to comment on.

It remains to be seen what Intel will do after purchasing Basis as the firm has only been making reference designs to-date and not commericialising its own ideas.