Why Garmin (GRMN) Is Buying Firstbeat Analytics

By Amit Chowdhry ● July 1, 2020
  • Garmin Ltd. (NASDAQ: GRMN) recently announced that it is buying Firstbeat Analytics. These are the details about the deal.

Garmin Ltd. (NASDAQ: GRMN) recently announced that it is buying Firstbeat Analytics. Firstbeat Analytics is a Finland-based company that analyzes heartbeat data from consumer devices in the health and wellness sector. The terms of the deal were undisclosed.

Firstbeat’s software is able to analyze physiological data to put together metrics about sleep, stress, VO2 max, respiration rate, and calories burned. With these insights, it enables users to understand their physical training. Garmin is planning to integrate Firstbeat’s data into its fitness devices.

Firstbeat Analytics is the consumer licensing business formerly a part of Firstbeat Technologies. Firstbeat Technologies will continue operating its Wellness and Professional Sports businesses.

Key Quotes:

“Having utilized Firstbeat’s innovative analytics across our product lines for more than a decade, we are excited to have the Firstbeat Analytics associates join the Garmin team, establishing us at the forefront of physiological analytics. Together with their team of physiologists, scientists, and engineers, we look forward to providing Garmin customers with unmatched technology for greater performance, recovery, and overall health.”

– Cliff Pemble, Garmin president and CEO

“Millions of Garmin customers depend on Firstbeat Analytics data from their smartwatch or cycling computer every day. We have enjoyed a strong collaboration with Garmin over the years, and we look forward to continuing to work together to bring the most advanced and accurate health and performance data to our customers.”

– Aki Pulkkinen, co-founder of Firstbeat