Intel has completed its acquisition of BASIS Science, a privately-held firm that sells wearable devices including a health tracker dubbed the Basis band.
Financial terms of the deal were not disclosed, but TechCrunch suggested that it was worth $100m (£60m).
The company's main product, the Basis band, monitors users' heart rate and keeps track of how many calories have been burned, as well as other features. It will continue to be sold through existing retail channels.
Intel said it was actively pursuing a range of products and initiatives with the goal of "accelerating wearable device innovation". In September, it unveiled Quark Atom microprocessors, which are intended for wearable computing.
BASIS said in a blog post that Intel was chosen because it had a "broad wearables strategy" and because BASIS would benefit from the "technical, manufacturing global reach and support resources Intel has to offer".
Jef Holove, BASIS Science's CEO, has been named as general manager in Intel's new devices group as part of the acquisition. He suggested that the BASIS team would be kept intact as part of the deal.
Mike Bell, vice president and general manager of Intel's new devices group, said the acquisition provided "immediate entry into the market with a leader in health tracking for devices".
"As we accelerate our position in wearables, we will build upon this foundation to deliver products that bring people greater utility and value," he said.
Many other technology firms have shown an interest in wearable technology - most notably Google with its smartglasses, dubbed Google Glass, and Samsung with its Galaxy Gear smartwatch. Last year, ailing PC maker Dell suggested it was considering entering the wearable computing market, and reports have long suggested that Apple would release its own smartwatch, dubbed the iWatch, at some point in 2014.
Last year, cloud hosting provider Rackspace's CTO John Engates told Computing that wearable technology will enhance consumers' lives and will also provide a new source of commercially exploitable data for vendors.