Press Release Details

Garmin® acquires Firstbeat Analytics, a leading provider of physiological analytics for health, fitness and performance

June, 30 2020

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (NASDAQ:GRMN), today announced it has acquired Firstbeat Analytics Oy, a privately-held provider of physiological analytics and metrics for consumer devices in the health, wellness, fitness and performance markets. Firstbeat Analytics is the consumer licensing business formerly a part of Firstbeat Technologies. Firstbeat Technologies will continue operating its Wellness and Professional Sports businesses.

As one of the most prominent physiological analytics companies in the world, Firstbeat Analytics has been transforming heartbeat data from consumer devices into meaningful information and advice to enhance performance and wellbeing for nearly two decades. Using a combination of sensor data, including heart rate variability (HRV), Firstbeat Analytics blends physiological science with mathematics to provide the most advanced analytics and metrics in the areas of stress, sleep, VO2 max, training status/load, training effect, respiration rate, calories burned and much more. This data allows users to make better, more informed decisions about training and recovery.

“Having utilized Firstbeat’s innovative analytics across our product lines for more than a decade, we are excited to have the Firstbeat Analytics associates join the Garmin team, establishing us at the forefront of physiological analytics,” said Cliff Pemble, Garmin president and CEO. “Together with their team of physiologists, scientists and engineers, we look forward to providing Garmin customers with unmatched technology for greater performance, recovery and overall health.”

“Millions of Garmin customers depend on Firstbeat Analytics data from their smartwatch or cycling computer every day,” said Aki Pulkkinen, co-founder of Firstbeat. “We have enjoyed a strong collaboration with Garmin over the years, and we look forward to continuing to work together to bring the most advanced and accurate health and performance data to our customers.”

Firstbeat Analytics is headquartered in Jyvaskyla, Finland, and will remain operating in this facility. Financial terms of the acquisition will not be released. For more information, visit firstbeatanalytics.com.

Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor lifestyles. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin or youtube.com/garmin.

About Garmin: Garmin Ltd. (Nasdaq: GRMN) is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2019, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Category: Corporate, Fitness

Carly Hysell
913-397-8200
[email protected]

Source: Garmin Ltd.

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