Garmin® Acquires MetriGear, Adding Cycling Power to Fitness Portfolio
Garmin Ltd. (NASDAQ: GRMN), the global leader in satellite navigation, announced today that it has acquired MetriGear, Inc., the creator of an innovative pedal-based power solution for cycling, as a new and exciting component of its growing fitness division.
MetriGear is a Silicon Valley-based company devoted to creating game-changing solutions for improving athletic performance in cycling and other sports.
“Power is becoming the must-have information for cyclists who want to improve their performance,” said Cliff Pemble, Garmin’s President and COO. “Adding MetriGear’s talents and technologies to the Garmin family is a natural fit as we share a passion for fitness and are dedicated to making advanced technology affordable and easy-to-use.”
MetriGear earned “Best of Show” accolades from multiple publications at Interbike 2009 upon the introduction of Vector™, a pedal-based power solution that integrates MetriGear’s custom force and motion sensor platform into the spindles of bicycle pedals to measure a cyclist’s performance. Vector is easy to move between bikes, it accurately measures power, and enables the independent measurement of pedal force for each leg.
“From the start, our vision has been to deliver an easy-to-own cycling power meter with unique capabilities,” said Clark Foy, CEO of MetriGear. “Garmin’s world-class engineering, wireless, manufacturing expertise and their ability to deliver an end-to-end solution from sensors to displays will be instrumental in realizing this vision. We can’t imagine a more capable partner to bring Vector to market, and we are absolutely thrilled to join the Garmin team.”
Garmin recently announced the newest addition to its family of GPS-enabled cycling computers, the feature-packed touchscreen Edge 800, which will be on display this week at Interbike in Las Vegas (Booth 2631). Using information directly from GPS satellites, Edge 800 accurately tracks speed, distance, time, GPS position, elevation, calories burned, climb and descent.
The wireless features of Vector, Edge 800 and many other Garmin fitness devices are enabled by ANT+™ personal area network technology, creating a fully integrated combination of best-in-class products for an affordable solution right out of the box. ANT+ is a leading wireless interface protocol enabling ultra low power applications.
Garmin and MetriGear are dedicated to bring the Vector power solution to market. Product availability and pricing details will be released at a later time. For the latest announcements and updates, or to learn more about Garmin’s products and services, go to www.garmin.com, www.garmin.blogs.com and http://twitter.com/garmin.
The global leader in satellite navigation, Garmin Ltd. and its subsidiaries have designed, manufactured, marketed and sold navigation, communication and information devices and applications since 1989 – most of which are enabled by GPS technology. Garmin’s products serve automotive, mobile, wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at www.garmin.com/newsroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark, and ANT+ is a trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
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 Quarterly Report on Form 10-Q for the quarter ended June 26, 2010, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-Q is available at 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.