CHICAGO (BRAIN) — SRAM announced Wednesday the acquisition of cycling computer brand Hammerhead. The transaction was completed Dec. 30.
In a news release announcing the acquisition, SRAM said it will continue to develop the Hammerhead Karoo product line under its portfolio that includes RockShox, Zipp, Time Sport pedals, Truvativ, and Quarq.
The latest Hammerhead GPS head unit, the Karoo 2, hit the market in late 2020, and in the last year, Hammerhead achieved "seven times revenue growth, and their community of riders have clocked over a million hours of gravel, concrete, and trails covered."
"Hammerhead is an amazing brand with award-winning products, and we do not plan on changing anything about how they innovate," said SRAM Vice President 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."
Hammerhead will remain a stand-alone brand within the SRAM portfolio and continue with its athlete and team roster, and work with SRAM to identify future opportunities.
SRAM said consumers, dealers, and distributors can continue utilizing Hammerhead's traditional communication channels for sales, service, and warranty.
"Hammerhead has always been focused on building the world's best cycling computer," said Pieter Morgan, Hammerhead CEO and co-founder. "Joining the SRAM portfolio allows us to innovate and expand even more rapidly, and ultimately deliver a better riding experience for cyclists."
