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Derby Cycle Invests in e-Bike Future

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Germany’s largest manufacturer of bicycles Derby Cycle entered a partnership with Daum R&D as a basis to further strengthen its technological strong market position in the e-bike segment. In a joint project both companies already developed the Impulse Drive which was presented this spring at the VELOBerlin bicycle trade fair.

Derby Cycle Invests in e-Bike Future

CLOPPENBURG, Germany – Germany’s largest manufacturer of bicycles Derby Cycle entered a partnership with Daum R&D as a basis to further strengthen its technological strong market position in the e-bike segment. In a joint project both companies already developed the ‘Impulse Drive’ which was presented this spring at the VELOBerlin bicycle trade fair.

Derby Cycle acquired 50% of Daum’s assests and as a consequence of which the company will be managed as a joint venture in the future. Confidentiality has been agreed initially concerning the purchase price.

Mathias Seidler, CEO of Derby Cycle AG, commented on the company’s entry into the joint venture as follows: “The e-bike market is growing. This close cooperation with Daum will enable us to make even faster progress than previously with the further development of e-bike technology. Competition is determined primarily by innovative strength – we regard ourselves as excellently positioned with our partner Daum.”

Uwe Bögershausen, CFO of Derby Cycle AG, went on to add: “This stake in Daum Forschung & Entwicklung GmbH allows us to successfully implement a building block in the corporate strategy that we set out as part of the IPO: the expansion of development activity for e-bikes. We will also drive further ahead with Derby Cycle’s international expansion over the coming months.”

Daum Forschung & Entwicklung GmbH was founded by Wilhelm Daum in 2003. The company currently employs eight staff members who are exclusively engaged in the development of electronic hardware and software. Managing Director Wilhelm Daum is also the founder of Daum Electronic GmbH, which is based at Fürth in Bavaria, Germany. This company operates internationally as a manufacturer of technologically unique cycle, elliptical, and running ergometers in functional and ergonomic designs.

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