Here’s the SRAM press release:
SRAM Corporation is pleased to announce the signing of a Letter of Intent to purchase Avid LLC. Avid is widely recognized as the technology and performance leader in braking systems, and this acquisition furthers SRAMs goal of providing a full component group to the bike industry.
The combination of SRAM and Avid creates a stronger company, and the only supplier in the bike industry to offer a broad range of Drivetrain, Suspension, and Brake Systems. SRAMs breadth in global operations will improve capacity, information flow, and service for the Avid product lines. The combination of Avids and SRAMs proven product development will lead to exciting new product lines. Over the last 15 years SRAM has grown to be the second largest component supplier in the industry. SRAM has a unique heritage of product innovation and customer service starting with twist shifters and extending through drivetrains. We have grown through our own efforts and the through the integration of three other great companies. These include:
– Sachs: The inventor of freewheels and internal gear hubs.
– RockShox: The inventor of mountain bike suspension.
– Avid: The inventor of adjustable brake levers and leader in disc brake systems.
SRAM and Avid are currently in the final phase of due diligence, with the closing expected to take place by Jan. 30th. Detailed integration plans with are being formulated with Avid, and will be communicated to the industry at the Taipei show in March.