Shimano has acquired the assets for Pioneer’s cycle sports business, the firm has revealed.
The firm was an innovative player in the world of power meters, cycle computers and associated web-based services under the Cyclo Sphere banner. The firm was on its third generation of product at the time of the agreement to sell on the world’s largest parts maker.
A statement declaring the transfer of its cycling business offers: “Pioneer will transfer the assets of these technologies and conclude its related operations. Sales by Pioneer of pedaling monitors, cycle computers, and other related products will cease by the end of March 2020.”
It is now said that Shimano will go on to develop the products, software and online services. Former customers will retain access to all of the services they currently enjoy, according to the statement.
Pioneer will continue to service warranties and repairs up until the time when the assets are transferred at the close of March.
Combining the two businesses shouldn’t prove too much trouble for Shimano, as Pioneer’s goods were generally designed to work in tandem with the manufacturer’s products, some were even pre-sold attached to Shimano goods.
“The transfer of the Cycle Sports technology to Shimano will incorporate Pioneer’s strength in electronics and IT technologies, enhancing the functions of products and services and achieving the aspiration of Pioneer to contribute to a wider range of customers,” adds the statement.
Shimano’s progress has been steady in recent times, with the firm’s financial results showing steady gains much thanks to a stabilisation of market inventory and strong European sales.