Mergers and Acquistions News
Categories: Hardware
April 20th 2009, 15:19PM
Suunto has announced the acquisition of Tacktick, a UK-based manufacturer of wireless marine sensors, instruments and displays.
The financial terms of the transaction were not disclosed, but the acquisition was carried out by a sister company of Suunto Amer Sports UK, a subsidiary of the Amer Sports Group.
No changes are planned involving the 14 Tacktick employees, according to a release from Suunto.
Commenting on the deal Suunto president Juha Pinomaa said the transaction "nicely enhances" the brand, which designs and manufactures sports precision instruments.
The tie-up enables the two firms to bolster their presence in the marine instruments market, Mr Pinomaa added.
Clive and Mark Johnson, the Tacktick founders, said: "We are looking forward to developing Suunto's marine business worldwide as well as exploring technology synergies within the huge range of Amer Sports companies."
Suunto was founded in 1936 by an outdoor enthusiast who was frustrated at the inaccuracy of traditional dry compasses.
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