Garmin Acquires Firstbeat Analytics

garmin

Consumer tech company Garmin Ltd. (NASDAQ:GRMN) acquired Firstbeat Analytics Oy, an Jyvaskyla, Finland-based provider of physiological analytics and metrics for consumer devices in the health, wellness, fitness and performance markets.

The amount of the deal was not disclosed.

Commenting on the deal, Cliff Pemble, Garmin president and CEO, said:

Together with their team of physiologists, scientists and engineers, we look forward to providing Garmin customers with unmatched technology for greater performance, recovery and overall health.

Led by Aki Pulkkinen, Firstbeat Analytics is the consumer licensing business formerly a part of Firstbeat Technologies. It transforms heartbeat data from consumer devices into information and advice to enhance performance and wellbeing. Using a combination of sensor data, including heart rate variability (HRV), The company blends physiological science with mathematics to provide analytics and metrics in the areas of stress, sleep, VO2 max, training status/load, training effect, respiration rate, calories burned and much more. This data allows users to make informed decisions about training and recovery.

Following the deal, the company will remain operating in the Jyvaskyla’s facility while Firstbeat Technologies will continue operating its Wellness and Professional Sports businesses.

Garmin Ltd. (Nasdaq: GRMN) is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom.

FinSMEs

01/07/2020

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