SRAM has just announced its acquisition of Hammerhead, the cycling technology company behind the critically acclaimed Karoo 2 cycling computer, in a transaction that completed on December 30, 2021.
However, Hammerhead will still remain a stand-alone within SRAM's now burgeoning portfolio, with a view to allowing the brand to continue building upon its innovative product.
Moving forward, Hammerhead will "connect the cycling experience, continue with their athlete and team roster, and work with SRAM to identify future opportunities."
“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.”
CEO and co-founder of Hammerhead, Pieter Morgan, 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.”
The Karoo 2 hit the market in late 2020 and quickly made it to the handlebars of many of the world's top athletes – including Chris Froome who went on to personally invest in the company.
In just the last year, Hammerhead has achieved seven-fold revenue growth, with a community of riders that clocked over a million hours of riding over gravel, tarmac and trails.
Through the acquisition, Hammerhead joins the – already large – family of SRAM's subsidiary companies, including: RockShox suspension, Zipp wheels and handlebars, TIME Sport pedals, TRUVATIV bars and cranks, and Quarq power technology.
For sales, service and warranty, consumers, dealers and distributers should continue to utilise Hammerhead's traditional commutation channels.
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