Stuttgart/Reutlingen – Bosch eBike Systems has announced its plans to expand its product portfolio with the acquisition of Frankfurt am Main-based connected-biking start-up, COBI.
COBI GmbH is a start-up in the field of connected biking, founded in 2014, COBI offers e-bikers and cyclists the opportunity to use their smartphone as a control, infotainment and display unit. COBI offers services such as navigation, music, telephony and fitness. It also connects riders with other apps such as Strava, Komoot, Spotify, Apple Health and Bluetooth fitness sensors. A press release from Bosch note that 'the mobility of the future is electrified, automated and connected. COBI's products and, above all, its technology platform, make biking more connected and smarter. This means that an eBike or cycle ride becomes a unique digital experience.
"The acquisition of COBI GmbH provides the ideal opportunity to expand the product portfolio of Bosch eBike Systems in the area of connected products and services. COBI offers the necessary expertise and experience, as well as the appropriate technologies for a successful partnership," says Claus Fleischer, CEO of Bosch eBike Systems.
The continuation of the company and of the COBI brand represents a great opportunity for the founder and CEO of COBI, Andreas Gahlert: "With Bosch as a strategic partner, we see huge scope for worldwide growth in the area of digitally connected products and services in the bike environment. For us, this is undoubtedly a significant step into the future".
COBI's offerings are largely aimed at the fast-growing digital target group which now uses the smartphone in many areas of daily life and also when cycling. COBI solves the issue of limited smartphone battery life and provides ease of use in a safe and comfortable manner while riding. In the background of the product portfolio, a technology platform of cloud, apps, services and firmware has evolved, which can be used in conjunction with existing Bosch systems for future digital solutions.
While a few years ago, the cycle sector was largely focused on mechanical and analog products, these are now becoming increasingly electric and digital.
The parties have agreed not to disclose the acquisition price. The transaction is subject to the approval of the antitrust authorities.