The company said the acquisition brings together two disruptive companies serving the global sporting community and provides professional and amateur cyclists and triathletes with a training trifecta consisting of power measurement, heart rate monitoring and indoor training.
“We are happy to welcome STAC to the 4iiii family,” said Kip Fyfe, 4iiii president and CEO, in a news release. “This extremely talented and creative team is a great fit with our company. I look forward to the big, bold ideas and to the growing portfolio of technologies that will come from this collaboration. We are excited to be expanding the tech footprint in Cochrane, Alberta, with this Waterloo, Ontario, acquisition.”
The company said 4iiii has earned a global reputation for technology leadership providing PRECISION, the world’s lightest, most accurate family of powermeters, and Viiiiva, a line of versatile and dependable heart rate monitors.
It said STAC Zero trainer is the world’s quietest bike trainer. The company has seen sales of the trainer in over 40 countries since its launch via Kickstarter in 2016. In 2018, the STAC Zero was awarded the EUROBIKE Award for its innovation, design and added value.
“We have been simply blown away by the market’s response to the STAC Zero since we brought our trainer to market three years ago,” said STAC CEO Andrew Buckrell. “Joining 4iiii feels like the perfect marriage and presents us with a tremendous opportunity to grow.”
No financial details of the deal were released. STAC’s team will relocate to Cochrane this summer.
– Mario Toneguzzi