Garmin Ltd. announced that it has completed the acquisition of Tacx Onroerend en Roerend Goed B.V., a privately-held Dutch company that designs and manufactures indoor bike trainers, tools and accessories, as well as indoor training software and applications.
“We are pleased to have the Tacx team join the Garmin family, and we are excited to add indoor training solutions to the Garmin fitness portfolio,” said Cliff Pemble, Garmin president and CEO. “We are looking forward to leveraging the outstanding expertise and skills of the Tacx team to provide a seamless indoor and outdoor experience for athletes year round.”
Tacx will continue operations at its current headquarters in Wassenaar, Netherlands, along with its distribution center located in Vogt, Germany. The company employs nearly 200 associates who will become part of the global Garmin team. To further leverage the growing market for indoor bike trainers, Tacx will continue its capital investment project currently underway to expand its R&D and production capacity. Financial terms of the transaction were not released.
