SRAM announced the acquisition of Hammerhead, maker of the Karoo 2 cycling computer. Hammerhead will join SRAM’s portfolio of brands and will continue to develop its Karoo product line under the SRAM portfolio. The companies completed the transaction on December 30, 2021.
In a press release, SRAM said it saw tremendous potential in Hammerhead after the award-winning cycling GPS computer (the Karoo 2) hit the market in late 2020 and landed on the handlebars of many of the world’s top athletes. In the last year, Hammerhead achieved 7x revenue growth and their community of riders have clocked over a million hours of gravel, concrete, and trails covered.
SRAM’s broad range of wireless AXS components are technology leaders that have pushed the capabilities and expanded the range of bikes in road, triathlon, mountain, and gravel. Additionally, SRAM is known for their extensive range of complementary cycling brands, including RockShox suspension, Zipp wheels and handlebars, TIME Sport pedals, TRUVATIV bars and cranks, and Quarq power technology.
“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.”
“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 SRAM CEO, Ken Lousberg.
Pieter Morgan, CEO and co-founder of Hammerhead says, “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.”
SRAM emphasised that Hammerhead will remain a stand-alone brand within the SRAM portfolio allowing the brand to continue to build upon its innovative product.