Pioneer Corporation announced today that it has signed an agreement to transfer certain assets of its Cycle Sports business to Shimano, Inc. (“Shimano”), a leading manufacturer of bicycle components globally.
Through this agreement, Pioneer will transfer the assets of these technologies and conclude its related operations. Sales by Pioneer of pedaling monitors, cycle computers and other related products will cease by the end of March 2020.
Shimano plans to develop products, web services and applications using the Pioneer Cycle Sports assets and make Shimano services available to customers who currently use Pioneer’s Cyclo-Sphere web services, PC tool and smartphone applications. Cyclo-Sphere will continue to be available to consumers until Shimano’s services are introduced.
Pioneer will continue to accept customer inquiries about cycle products and services and provide repair services on Pioneer Cycle Sports products sold prior to the asset transfer per the terms of any applicable product warranties.
Photo courtesy Pioneer