4iiii Innovations has contributed to growing Cochrane’s reputation as a technology hub with a recent acquisition that will see it expand its range of products while bringing more jobs to the community.
On May 7, the local tech company specializing in outdoor running and cycling performance monitors announced it had acquired STAC Performance, which will add a new line of indoor monitoring technology to 4iiii’s list of products.
Kip Fyfe, 4iiii president and CEO, said the acquisition provides synergy with 4iiii’s current product line.
STAC Zero’s Halcyon Smart Trainer complements 4iiii’s powermeter technology, giving cyclists a one-stop-shop for their training solutions, whether they are hitting the trails or staying indoors.
“Anybody who buys a trainer buys a powermeter and anyone who buys a powermeter buys a trainer,” said Fyfe, “This extremely talented and creative team is a great fit with our company. I look forward to the big, bold ideas and to the growing portfolio of technologies that will come from this collaboration.”
Aside from the benefits to 4iiii Innovations’ business model, the acquisition will have direct benefits to the local economy.
STAC Performance’s operations, previously based in Waterloo, Ont., will relocate all six of its employees to Cochrane and Fyfe said another six to 12 new jobs will result from the expansion.
He added all of the employees have chosen to live in Cochrane rather than Calgary.
Fyfe attributes Cochrane’s location and culture as a factor in the successful buyout.
“Cochrane is really compelling to the STAC folks. They are big athletes – swimmers, runners, triathletes,” said Fyfe, adding the amenities in town catering to those activities and the proximity to the mountains was a major draw for the STAC team.
Since 4iiii Innovations began in 2011, it has grown from 40 employees to more than 100 and Fyfe said he is confident there will be continued growth.
“Fyfe, globally recognized as a sports and wearables innovator and visionary, has devoted more than 25 years to the high tech and electronics industry. Prior to 4iiii Innovations, he was CEO and founder of Dynastream and ANT+ which were sold to Garmin in 2006,” stated a news release.
STAC CEO Andrew Buckrell said, “Joining 4iiii feels like the perfect marriage and presents us with a tremendous opportunity to grow.”
For more details on 4iiii Innovations, go to 4iiii.com.
