Jawbone agreed to acquire BodyMedia, reportedly for more than $100 million, in a bid to expand its footprint in the wearable technology market.
San Francisco-based Jawbone did not disclose the deal’s value, but Reuters, citing "a person familiar with the matter," reported that it’s worth "north of $100 million."
Pittsburgh-based BodyMedia’s roughly 60 employees will "join Jawbone’s existing team," according to a press release.
"There’s an enormous appetite for personal data and self-discovery among consumers that will only continue to grow," Jawbone founder & CEO Hosain Rahman said in prepared remarks. "Together, BodyMedia and Jawbone have almost 3 decades worth of deep tech, science and intellectual property around sophisticated sensors on the body, and nearly 300 issued and pending patents around wearable technology. We look forward to pushing new boundaries, creating new markets, and showing people what’s truly possible with wearable computing."
"Jawbone’s deep expertise with consumer technology, design, and building products that fit seamlessly into people’s lives is the best way to carry forward many of the innovations that BodyMedia has developed over the past 14 years," BodyMedia CEO Christine Robins added. "We are eager to pair our depth of insight and IP with Jawbone’s expertise so that together, we can make an even bigger impact on people’s health and help them achieve their goals."
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