Bosch eBike Systems to takeover COBI GmbH

Founded in 2014, COBI GmbH offers eBikers and cyclists the opportunity to use their smartphone as a control, infotainment and display unit. "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 parties have agreed not to disclose the acquisition price. The transaction is subject to the approval of the antitrust authorities. COBI's products and its technology platform aims to make biking more connected and smarter. COBI offers services such as navigation, music, telephony and fitness. "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". While a few years ago, the cycle sector was largely focused on mechanical and analogue products, these are now becoming increasingly electric and digital. COBI's offerings are largely aimed at the growing target group which uses their smartphone in many areas of daily life and also when cycling. COBI’s solution solves issues of limited smartphone battery life; and In the background of the product portfolio, a technology platform of cloud, apps, services and firmware has evolved.