On July 26, Huami Technology announced an agreement with Zepp International Limited to acquire the core assets of the latter. Zepp is a leading multi-sports sensor technology company headquartered in San Jose, California.
Huami Technology said that the signing of this agreement will significantly enhance the technical strength of Huami Technology in sports and activity-driven analysis, expand the influence of Huami Technology in the field of sports training analysis, and help Huami Technology to open up new sports products. Line and opportunities to expand the global market. At the same time, Zepp's good brand and commercial channels also help Huami Technology strengthen its cooperation with global sports brands and enter the high-end sports products market.
It is understood that Zepp was founded in 2010 and is one of the first companies in the world to design intelligent sports hardware. It has industry-leading sensor algorithms and motion modeling technology to provide real-time, quantitative motion analysis to help users adjust their training plans in time. Zepp is also developing deep analysis-based video analysis and processing technology, and has several US patents and international patents in the fields of sensors, algorithms, and deep learning.
Zepp's smart sensors and APP products now cover golf, baseball, softball, tennis, football, badminton and many other sports. The market share in the North American market once reached 70%, including women's golf world champion Wei Shengmei, MLB superstar Mike Trout, men's tennis star Milos Raonic and many other sports stars and professional coaches, teaching institutions are using Zepp for training and teaching.
'We are very pleased to be able to sign this agreement and are excited about expanding our product line in the field of sports training analysis and expanding opportunities in the global market,' said Huang Wang, Chairman and CEO of Huami Technology: 'We look forward to using Zepp Deep experience, mature products and existing cooperation, enriching the product categories of Huami Technology. At the same time, we use our strong distribution channels to seize the opportunity of the rapid development of the sports industry.
At present, sensor-based, advanced motion analysis technology is developing rapidly. Zepp has strong technical strength and brand influence in this field, and has established partnerships with some leading sports equipment manufacturers, such as HEAD Tennis (Hyde, Tennis). Sports equipment leading brand) and Yonex Badminton (Yonex, leading brand of badminton sports equipment).
Next, the goal of Huami Technology is to use its excellent R&D team and Zepp's extensive technical patents to further strengthen the research and development of Huami Technology's activity-driven data. At the same time, Huami Technology will also use Zepp's cooperation with Apple. Channels, expand the market for high-end sports products such as golf.
In addition, Huami Technology recently acquired the core assets of the Medical Enterprises Inc (PEI) under the Adidas Group. PEI is one of the first teams in the world to develop healthy wearable devices and accurate heart rate monitoring. This transaction will enhance the heart and lungs of Huami Technology. Health algorithm capabilities, and also help Huami Technology deepen its strategic layout in the sports and fitness market.