North Pole Engineering acquires Wahoo GEM product line to expand its IoT product portfolio
North Pole Engineering (NPE), expert in connected fitness and IoT technologies today, announces the acquisition of Wahoo’s GEM product line. GEM is a Bluetooth and ANT+ OEM module built to integrate with fitness equipment like treadmills, stair climbers, rowers, exercise bikes, and ellipticals for sharing exercise data with smart phones, tablets and leaderboard systems for group workouts.
North Pole Engineering will be acquiring the assets and intellectual property related to the GEM products from Wahoo allowing it to support the needs of existing GEM customers and provide a foundation for future offerings focused on fitness and non-fitness applications.
“We have had a lot of success with our GEM over the past three years, but our consumer business has grown even faster due to the success of our Elemnt, Elemnt Bolt, and KICKR bike trainers,” said Chip Hawkins, Founder and CEO of Wahoo Fitness. “This divestiture will allow us to focus our resources and investments on products for our core cyclist, runner, and triathlete customers.”
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
“We are excited to add the GEM product line to our portfolio and it aligns well with IoT product strategy,” said Rick Gibbs, President of North Pole Engineering. “We look forward to serving existing GEM customers with their product needs as well as expanding the GEM capabilities to support other applications within and outside the fitness equipment industry.”