Electronics giant Pioneer has been developing cycling related products since 2013, in particular, power meters, but has now reached an agreement to sell of its cycling related assets to Shimano.
In a press release Pioneer said, “Pioneer will transfer the assets of these technologies and conclude its related operations. Sales by Pioneer of pedalling 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.”