US wearable tech firm Basis puts itself for sale on the market -sources
Basis Science has put itself on the market, two sources familiar with the situation said. The company is the maker of the Basis Health Tracker Watch, according to TechCrunch.
For the past couple of weeks, the California-based firm has been reportedly shopping itself around. In addition, Basis has entered talks with Google and Apple about the potential sale. Samsung and Microsoft are possibly among the companies that Basis has spoken to, the report detailed.
According to the sources, the price for the possible sale is under $100 million. This could spell a small return for Basis' investors such as Mayfield Fund, Intel Capital, and Norwest Venture Partners. These companies have poured more than $30 million into the wearable tech device maker. Alternatively, the sources said Basis could go after a Series C funding, the report explained.
Of the fitness trackers in the market, Basis reportedly has the most accurate data collection and reporting. However, it also has the most clunky design, TechCrunch reported.
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