In a surprise move, SRAM LLC, one of the world's largest cycling groupset manufacturers, has today announced that it recently completed the acquisition of Hammerhead, the fast-growing cycling computer brand behind the Karoo 2 GPS computer.
The acquisition was completed for an undisclosed amount on December 30th, 2021, and will see no immediate changes for existing owners with regards to customer service and support.
The SRAM group is already home to some of the biggest household brand names in cycling. Under the SRAM name, it makes groupsets for road, mountain and gravel bikes, but the group also houses wheel and component giants Zipp, suspension specialists RockShox, power meter manufacturers Quarq, as well as the recently-acquired pedal branch of French company Time. For Hammerhead, today's announcement will see the brand slot in alongside those others and operate in a similar way. For SRAM, its portfolio grows into the cycling computer market for the first time.
The move opens up a tonne of potential integrations between the company's brands and technologies, but in the more immediate future, it will likely see the Hammerhead brand grow stronger as it continues to lead the charge against the market leaders in the cycling computer space, Garmin and Wahoo.
“Hammerhead has always been focused on building the world’s best cycling computer, explained Pieter Morgan, Hammerhead's 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.”
SRAM's Vice President of Growth, Clint Weber, was quick to point out that there will be no exclusivity between SRAM and Hammerhead technologies. "We do not plan on changing anything about how [Hammerhead] innovate. 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.”
The Hammerhead brand has already seen fast growth in the past 12 months, with a claimed seven-times revenue growth since the start of 2021. Not only is the Hammerhead Karoo 2 computer among the best cycling computers available - as reviewed by the Cyclingnews tech team - but it has also received accolades from its sponsored WorldTour team, Israel Premier-Tech, with Chris Froome being so enamoured with the brand that he invested in the company and joined the board of directors. It is reported that Froome will continue to work with the company.
According to the brands, Hammerhead will remain operational as a standalone brand within the SRAM portfolio, but going forward, it will "work with SRAM to identify future opportunities". We're excited to see what those opportunities might be, and will be watching this space very closely.
