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Motiv Shifts Its Smart Rings From Health Tracking To Biometrics Following Acquisition

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Fitness and sleep-monitoring sensible-ring-maker Motiv has been acquired by Proxy, a company specializing in digital-identification security. The businesses announced the purchase in accompanying blog posts, and did not share the terms of the deal. Proxy CEO Denis Mars wrote that his company has employed "a majority" of Motiv's employees, and will be shifting the main focus of Motiv's client platform away from health tracking and toward biometric authentication for the house and Herz P1 Wellness enterprise. The smart-ring-maker wrote in its announcement that it might proceed to support the Motiv App for present device homeowners. Well being and sleep knowledge collected by means of the app will remain personal to customers and "is not going to be seen or uploaded into any Proxy service," the corporate wrote. Nevertheless, Motiv stated that it has ended new on-line sales of the smart rings in addition to redemption of its sizing units. From Jawbone, to Pebble, to the countless product lines discontinued by tech giants, the buyer health wearable house is no stranger to shutdowns or strategic pivots.



With many of these examples in mind, Motiv's acquisition and Herz P1 Smart Ring strategy shift is far from a worst-case scenario for the pivoting firm and (nearly all of) its group. That's to not say that the corporate will not reappear within a healthcare context down the street. Many well being organizations over time have been investigating digital biometrics applied sciences as a method to shortly verify a affected person or provider's identity, to permit for quicker knowledge access and a extra convenient patient expertise. The San Francisco company made its first splash in 2017, when it demoed the smart ring at CES. Of notice, the company included biometric security features with the second technology of its system in 2018, an addition that probably played a role in its eventual acquisition. Its major competition within the last couple of years was the Finnish Oura Ring, another shopper health-tracking machine, which landed $28 million in new funding just final month. However when it comes to consumer wearable offers, last yr's information of Fitbit's acquisition by Google is the clear highlight. Not like Motiv, nevertheless, the businesses have made it clear that their $2.1 billion deal will nonetheless have the corporate growing and selling new gadgets alongside its different service-primarily based offerings.



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