CHICAGO, IL (BRAIN)—SRAM today announced that it has acquired Quarq Technology Inc., manufacturer of power meters, measurement devices and related accessories for the bike industry. Detailed integration plans with Quarq are being formulated, the company said in a release.
“We are looking forward to the opportunities that this partnership represents for further innovation and integration of bicycle components and power measurement,” said Stan Day, chief executive officer of SRAM. “Quarq’s growth has been impressive and their technology and product base are strong. Power measurement represents a rapidly growing segment of the cycling market and we are very content to have partnered with a leading brand in Quarq, and a technology pioneer in Jim Meyer.”
Quarq founders, Jim and Mieke Meyer, will continue to lead operations in the near term. Order processing and customer service for Quarq products will continued to be handled through its existing channels, but SRAM expects to integrate them over time. Quarq’s current manufacturing will remain in Spearfish, South Dakota, for the moment. Quarq’s supply chain will remain mostly unchanged. Current suppliers will be supported by SRAM engineering and manufacturing resources.
“We started Quarq five years ago to push forward power meter technology,” said Jim Meyer in a statement. “We have had wonderful success to date and are very excited about joining forces with SRAM. SRAM has a long history of innovation and is a natural fit with Quarq. We look forward to further pushing forward power measurement technology.”