SAN FRANCISCO (Reuters) - Jawbone acquired BodyMedia Inc, the maker of weight-monitoring arm bands, for more than $100 million, according to a person familiar with the matter.
The deal will help Jawbone’s efforts to bolster its position in the wearable technology market, with nearly 300 pending and issued patents, the company said on Tuesday. Pittsburgh-based BodyMedia’s 60 employees will join Jawbone as part of the deal.
Jawbone, which is based in San Francisco, did not disclose the financial terms of the transaction, but a person close to the company said the deal was for “north of $100 million.”
Jawbone also announced a program on Tuesday to allow third-party software developers to create apps for its UP wristband, which tracks daily activity such as steps taken or hours slept. Jawbone will initially allow a limited group of 10 developers to create applications that enhance the wristband with features such as logging a bike ride or delivering workout reminders.
Jawbone, which also makes wireless headsets for mobile phones, has raised more than $210 million in funding to date. In its most recent funding round, in December 2011, the company raised $40 million from Deutsche Telekom, J.P. Morgan Asset Management, venture firm Kleiner Perkins Caufield & Byers and private investor Yuri Milner.
Wearable computing is increasingly attracting the attention of large and small technology companies. Google Inc is preparing to release Google Glass, a small screen attached to a pair of eyeglass frames that offers various smartphone-like features. Apple Inc is widely reported to be working on a wristwatch with a variety of high-tech features.
Reporting By Alexei Oreskovic; Editing by Ken Wills