Garmin has acquired Tacx, the Dutch trainer, accessories and tools manufacturer in a move that is clearly a bid to grab a slice of the lucrative and fast-growing indoor training market.
Garmin is best known for its range of GPS computers but has expanded its family of products in recent years, largely through acquisitions, with power meter pedals and radar products being added to its range. Tacx is best known as a class-leading indoor trainer manufacturer, with the Neo 2 and NEO Bike its flagship smart trainers.
This move to acquire all of the outstanding shares of Tacx Onroerend en Roerend Goed B.V (“Tacx”), a privately held Dutch company, gives Garmin an instant range of smart trainers which gives it a foot in the door of the indoor training market, made popular by the likes of Zwift and Wahoo in the past couple of years, and which is now spawning an entire new category of e-racing.
“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.”
“We are excited to have the support of a technology leader like Garmin,” said Koos Tacx, CEO of Tacx. “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.”
Whether the Tacx name disappears and Garmin starts appearing on trainers remains to be seen, but the move is clearly an attempt by Garmin to muscle into the indoor training market. It’ll clearly aim to integrate the Tacx products into Garmin’s existing product family, but we do wonder what else we could see in the future, could Garmin develop an indoor-specific computer for example?
We’ve no idea how much Garmin paid for the Tacx shares with the press release just stating that the financial terms will not be released. The deal will be completed in Q2 2019 and the 200 Tacx staff will join the Garmin team.
David has worked on the road.cc tech team since July 2012. Previously he was editor of Bikemagic.com and before that staff writer at RCUK. He's a seasoned cyclist of all disciplines, from road to mountain biking, touring to cyclo-cross, he only wishes he had time to ride them all. He's mildly competitive, though he'll never admit it, and is a frequent road racer but is too lazy to do really well. He currently resides in the Cotswolds.