Cycling power meter and heart-rate monitor company, 4iiii Innovations, has acquired Waterloo cycling tech startup STAC Performance, adding its line of indoor monitoring technology to 4iiii’s suite of products.
“Joining 4iiii feels like the perfect marriage and presents us with a tremendous opportunity to grow.”
The acquisition officially brings together two Canadian companies that offer cyclists and triathletes with services consisting of power measurement, heart rate monitoring, and indoor training. The partnership began in November 2017, when both companies participated in the Cycling Canada Summit, and discussions of the acquisition began a year later. The terms of the recent agreement were not disclosed.
“We are happy to welcome STAC to the 4iiii family,” said Kip Fyfe, 4iiii president and CEO. “This extremely talented and creative team is a great fit with our company. I look forward to the big, bold ideas and to the growing portfolio of technologies that will come from this collaboration. We are excited to be expanding the tech footprint in Cochrane, Alberta with this Waterloo, Ontario acquisition.”
Led by CEO Andrew Buckrell, STAC sells its STAC Zero bike trainer in more than 40 countries since its Kickstarter launch in 2016. In 2018, the STAC Zero was awarded the Eurobike Award for its innovation, design and added value, and the company calls it the quietest bike trainer in the world.
Based in Cochrane, Alberta, 4iiii has developed Viiiiva, a line of heart rate monitors, as well as Precision, which it claims is the world’s lightest, most accurate collection of power meters. Over summer 2019, STAC Performance will relocate its operations, previously based in Waterloo, to Cochrane. All six of the company’s employees will make the move and Fyfe added that between six to 12 new jobs will be added as a result of the expansion.
“We have been simply blown away by the market’s response to the STAC Zero since we brought our trainer to market three years ago,” said Buckrell. “Joining 4iiii feels like the perfect marriage and presents us with a tremendous opportunity to grow.”
Image courtesy Unsplash.