SRAM Corporation and Truvativ have signed a definitive agreement to purchase Truvativ. The transaction is expected to close by mid October.
Stan Day, the President of SRAM said: Truvativ is a great company with a remarkable track record of growth and innovation. Cranksets and bottom brackets complete SRAMs drivetrain product line.
Micki Kozuschek, the President of Truvativ said: Truvativ was at a crossroads to either make a complete drivetrain ourselves or team up with SRAM. I am excited that we now have a complete drivetrain and all the necessary human and financial resources to make it the best in the industry.
Truvativ HQ will remain in San Luis Obispo, California, as SRAMs product development arm for cranksets and bottom brackets. In the future it may take on additional development activities, said a statement from SRAM.
Micki Kozuschek will lead the Truvativ operation as general manager responsible for product development, sales and marketing. Truvativs factory in Taichung will continue to be the manufacturing location for cranksets. It will continue to be led by Gary Peng. There will be no transaction related layoffs.
"There will be no changes to Truvativ order processing or customer service for this model year," said Day.
"We will be linking order processing and customer service for SRAM and Truvativ for the 2006 model year."