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This transaction was completed on December 30, 2021.
“The brand fit is seamless, and they are driven by the same principles as SRAM, which is innovation that improves the cycling experience. We are excited at what the future holds,” said Ken Lousberg, SRAM CEO.
The SRAM family already includes Quarq power meters, Zipp wheels, RockShox suspension, and Truvativ bars and cranksets, among others. In February 2021, the Chicago, Illinois-based company bought Time pedals.
Hammerhead will join SRAM’s portfolio of brands and will continue to develop its Karoo product line under the SRAM portfolio.
“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,” Clint Weber, SRAM vice president of growth, said.
SRAM indicated that over the most recent 12 months, Hammerhead experienced a seven-fold growth in revenue.
With the merger, Hammerhead will have access to more cash, as well as a direct technology pipeline to other integrated electronics like SRAM’s wireless drivetrain, Quarq’s crank-based power meters, RockShox’s Reverb AXS dropper post. This integration promises — hopefully — improvements in ANT+ and Bluetooth standards used by the various brands to exchange rider and bike data.
In November 2021, Hammerhead committed to a partnership with Israel Premier Tech for the 2023 season. Star rider Chris Froome has been on an advisory board for Hammerhead products, providing the technology company with feedback.
“I am really happy to continue working with Hammerhead for the next two years. We, the Israel Start-Up Nation riders, have been working closely together with the Hammerhead team this past season in order to optimize the user experience of the Karoo 2,” Froome said.
The team’s component partners are Shimano and Black, Inc.