BikeBiz Bicycle and cycling retail news
SRAM has acquired cycling technology company Hammerhead, maker of the Karoo 2 cycling computer.
Hammerhead will join SRAM’s portfolio of brands and will continue to develop its Karoo product line under the SRAM portfolio. The companies completed the transaction on 30th December 2021.
“Hammerhead is an amazing brand with award-winning products, and we do not plan on changing anything about how they innovate,” said SRAM’s VP of growth Clint Weber. “We are excited about this acquisition and excited that their team will continue to design, manufacture, and sell technology and quality leading head units that work with every brand of drivetrain.”
SRAM said it saw ‘tremendous potential’ in Hammerhead after the award-winning cycling GPS computer, the Karoo 2, hit the market in late 2020. In the last year, Hammerhead achieved 7x revenue growth and its community of riders have clocked over a million hours of gravel, concrete and trails covered.
“The brand fit is seamless, and they are driven by the same principles as SRAM, which is innovation that improves the cycling experience,” said SRAM CEO, Ken Lousberg. “We are excited at what the future holds.”
Together, SRAM and Hammerhead will continue to develop an innovative cycling technology platform ensuring riders can seamlessly integrate with a wide variety of existing hardware and software products and services, including both Shimano and SRAM electronic shifting.
Pieter Morgan, CEO and co-founder of Hammerhead, said: “Hammerhead has always been focused on building the world’s best cycling computer. Joining the SRAM portfolio allows us to innovate and expand even more rapidly, and ultimately deliver a better riding experience for cyclists.”
Hammerhead will remain a stand-alone brand within the SRAM portfolio allowing the brand to continue to build upon its innovative product. Moving forward, Hammerhead will connect the cycling experience, continue with its athlete and team roster, and work with SRAM to identify future opportunities.
Read more: Kona Bicycles joins Kent Outdoors
East Wind Advisors advised Hammerhead on this transaction. Consumers, dealers, and distributors will continue to utilise Hammerhead’s traditional communication channels for sales, service and warranty.
