Privately held Dutch firm Tacx is set to be acquired by Garmin, with the deal to buy the indoor smart trainers, tools, accessories and software expected to close in Q2 2019.
The financial terms of the deal will not be disclosed and Tacx’s 200 staff, based at the HQ in Wassenaar, Netherlands and the distribution centre in Vogt, Germany, will join the global Garmin team.
Tacx is currently undergoing a capital investment project to expand its R&D and production capacity. The firm has more than five decades of experience and is best known for its indoor smart trainers, including the NEO 2 and NEO Bike, that measures speed, power and cadence.
“Tacx brings an entirely new product category to Garmin’s fitness portfolio that expands our reach into the indoor training market,” said Cliff Pemble, Garmin president and CEO. “Together with Tacx, Garmin will offer a seamless, enjoyable and motivating indoor and outdoor experience for cyclists all year long.”
Koos Tacx, CEO of Tacx, added: “We are excited to have the support of a technology leader like Garmin. With Garmin’s extensive R&D capabilities and global distribution network, we look forward to working together to further enhance our indoor training products and technologies, and bring them to cyclists around the world.”