SRAM Acquires QUARQ
US Powermeter company becomes newest member of the SRAM family
Chicago, IL – May 5, 2011 — SRAM is pleased to announce the acquisition of Quarq Technology, Inc. Over the last several years Quarq has become recognized as a leader and innovator in the design and manufacture of power meters, measurement devices and related accessories for the bicycle industry. The acquisition by SRAM marks a milestone for both the SRAM and Quarq organizations.
“We are looking forward to the opportunities that this partnership represents for further innovation and integration of bicycle components and power measurement,” stated Stan Day, CEO 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."
Jim Meyer, the founder and CEO of Quarq said “We started Quarq 5 years ago to push forward power meter technology. 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.
While detailed integration plans with Quarq are being formulated, current plans include:
• Jim and Mieke Meyer, the founders and leaders of Quarq, will continue to lead Quarq operations in the near term.
• Order processing and customer service for Quarq products will be continue to be handled through their existing channels. We anticipate integrating these into SRAM over time.
• Quarq’s current manufacturing will remain in Spearfish, SD for the near term.
• Quarq’s supply chain will remain mostly unchanged. Current suppliers will be supported by SRAM engineering and manufacturing resources where appropriate.