Reuters – Jawbone Pays Upwards of $100M for BodyMedia
Jawbone acquired BodyMedia Inc, the maker of weight-monitoring arm bands, for more than $100 million, Reuters reported Tuesday. The deal will help Jawbone's efforts to bolster its position in the wearable technology market, with nearly 300 pending and issued patents. 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, 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.
