Sherbrook SBK Sport Corp. signed a letter of intent to acquire Global Sports Technologies Corporation and its patented sports technologies, including the Trilage hockey stick, for $8.9 million. The transaction will be completed through issuing nearly 8.1 million Sherbrook shares that will be transferred once certain conditions are met.
“The stick technology made popular by former NHL left winger, Darcy Tucker is unique, extremely performing and it is approved for the NHL” said Georges Guilbault, President of Sherbrook SBK Sport Corp. “We are gaining a superior product to add to our existing offering.”
Valencell, Inc., a Raleigh, NC-based mobile fitness technology company, has received $5.5 million in Series B venture investment. The round was led by Best Buy Capital, the investment group of Best Buy Co., Inc., with participation from Series A investors TDF and True Ventures. Valencell is the creator of Healthset powered earbuds, which gives audio headsets the ability to monitor the health and fitness of the user. It tracks real-time physiological metrics including heart rate, calories burned, steps taken, distance traveled, speed and more with data streamed to smartphones and/or MP3-players through wired or wireless links.
“People everywhere are listening to music while running and exercising,” explained CEO and cofounder Dr. Steven LeBoeuf. “Integrating heart rate sensors directly and seamlessly into music earbuds fits right into the behavior of consumers today.
The Series B funding is being used to expand the Valencell team, increase the number of licensing deals with strategic partners, and accelerate the product pipeline to include additional physiological monitoring capabilities.
Garmin Ltd. agreed to acquire Navigon AG, a German company that has a seven percent share in portable navigations devices (PND) and top selling navigation apps for the iPhone and Android platforms in Europe. Terms were not disclosed. The acquisition would enable Garmin to rapidly expand its OEM business with European automakers, where Navigon has invested significantly, said Cliff Pemble, Garmins president and COO.
With Navigon, we are also acquiring one of the top-selling navigation applications for the iPhone and Android platforms – something that we expect will help drive revenue for the combined company going forward. Combining Navigons and Garmins strengths also improves our competitiveness and standing, particularly in Europe, said Pemble. Navigon will operate as a subsidiary of Garmin Ltd.
JD Sports, the U.K. athletic footwear and apparel chain, has acquired a majority stake in Sprinter Group, which operates 47 stores in southeast Spain, marking JD Sports entry into the country. JD invested €20 million ($28m) for a 50.1 percent stake in a new joint venture company with Sprinter Group’s existing family owners. Sprinter was founded in 1981 and is one of the leading sports retailers in Spain selling footwear, apparel, accessories and equipment for a wide range of sports as well as some lifestyle casual wear including children’s wear.
JD said in a statement that its intention is for the Sprinter chain to “continue to grow and a joint venture is being established between JD Sprinter and JD (in which JD will have an effective shareholding of 65 percent) to roll out JD as a more fashion oriented retail fascia in Spain, emulating the UK format.”
JD Sports also acquired the Cecil Gee men’s brand and eight of its outlets in the U.K. from Moss Bros for £1.7 million ($2.7 mm).
