STUTTGART, Germany (BRAIN) — Bosch eBike Systems has agreed to purchase COBI, a connected biking startup that allows cyclists to use their smartphone as an e-bike control and display unit.
COBI's systems, available as aftermarket and OE products, offer navigation, music, telephony and fitness. COBI also connects with other apps such as Spotify, Apple Health and Bluetooth fitness sensors.
Andreas Gahlert founded COBI in 2014. "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," Gahlert said.
Claus Fleischer, the CEO of Bosch eBike Systems, said, "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."
The parties have agreed not to disclose the acquisition price. The transaction is subject to the approval of antitrust authorities.
