SRAM has acquired Quarq Technology, a US powermeter company.
Quarq designs and manufactures power meters, measurement devices and related accessories for the bike industry, leading the sector in innovation, according to SRAM.
Despite the acquisition Quarq founders Jim and Mieke Meyer will continue to run Quarq operation in the near future.
SRAM CEO Stan Day explained: “We are looking forward to the opportunities that this partnership represents for further innovation and integration of bicycle components and power measurement. Quarq’s growth has been impressive and their technology and product base are strong. Power measurement represents a rapidly growing segment of the cycling market and we are very content to have partnered with a leading brand in Quarq, and a technology pioneer in Jim Meyer.”
Meyer, founder and CEO of Quarq, added: “We started Quarq five years ago to push forward power meter technology. We have had wonderful success to date and are very excited about joining forces with SRAM. SRAM has a long history of innovation and is a natural fit with Quarq.
"We look forward to further pushing forward power measurement technology.”
Orders and customer service for Quarq will be handled through existing channels initially, then integrated into SRAM over time. The brand’s supply chain will remain mostly unchanged, SRAM said, with support from the new owner's engineering and manufacturing where appropriate. Quarq's manufacturing will remain in Spearfish, South Dakota for the near term.