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North Pole Engineering Acquires Product Line of Wahoo GEM to Expand IoT Product Portfolio.

M2 EQUITYBITES-July 13, 2018-North Pole Engineering Acquires Product Line of Wahoo GEM to Expand IoT Product Portfolio

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13 July 2018 - Minnesota, US-based connected fitness and IoT technologies company North Pole Engineering has acquired US-based Bluetooth and ANT+OEM module manufacturer Wahoo's GEM product line, the company said.

Terms of the transaction were not disclosed.

North Pole Engineering will acquire the assets and intellectual property related to the GEM products from Wahoo allowing it to support the needs of existing GEM customers and provide a foundation for future offerings focussed on fitness and non-fitness applications.

Wahoo Fitness said this divestiture will allow the company to focus resources and investments on products for its core cyclist, runner, and triathlete customers.

North Pole Engineering said the acquisition will help support other applications within and outside the fitness equipment industry.

North Pole Engineering specialises in providing sensors and enabling technologies for sensor-based products and systems to move data to the Internet for enhancing operations to a wide range of vertical markets including sports, fitness, and wellness.

Wahoo Fitness has created an ecosystem of sensors and devices for runners, cyclists and fitness enthusiasts. Wahoo's line of Bluetooth Smart products include the KICKR, KICKR SNAP indoor bike trainers, the ELEMNT, ELEMNT BOLT, ELEMNT MINI smart bike computers, the world's first smartphone connected bike computers, and the TICKR family of chest-based wearables.

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Date:Jul 13, 2018
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