On Monday Bicycle Retailer announced that SRAM has completed the purchase of the Time Sport pedal business from Rossignol Group. With the addition of Time, SRAM’s growing portfolio of cycling brands now includes RockShox, Avid, Quarq, Zipp, and Truvativ.
Rossignol and SRAM did not announce the purchasing price. In early February Rossignol Group sold its frame and bike business to Cardinal Cycling Group, which will now operate under the “Time Bikes” brand while SRAM will use the “Time Sport” brand for its pedals.
A few weeks ago SRAM quietly stopped selling PowerTap power meter products, including pedals. The new Time Sport acquisition will fill a pedal-shaped hole in SRAM’s otherwise robust catalogue of road and mtb components. While the brand owns Quarq power meters, which measure power at the spider, it will likely be looking to get into the pedal-based power meter market with the Time pedal business.
Pedal-based power meters are exploding in popularity. The product’s near-universal compatibility and (relative to other power meters) lower price point is a major selling point for many cyclists. As of right now, Garmin and Favero have the majority of the pedal-based power meter market, but Wahoo’s recent SpeedPlay acquisition is likely signalling the company’s intention to throw its hat into the ring.
The other notable factor of this acquisition is the possibility that the Time cleat standard will become more common as SRAM includes the pedals in its builds.
Time Bikes’ new owner, Cardinal Cycling Group, and SRAM will keep the TIME branding, according to a statement from SRAM. “Both companies will continue to market products under the TIME name, SRAM will focus relevant external communications as TIME Sport, and Cardinal Cycling Group will utilize TIME Bicycles.”