Garmin Acquires TrainingPeaks and TrainHeroic

Garmin has announced the acquisition of leading training platforms TrainingPeaks and TrainHeroic to strengthen its fitness ecosystem and enhance personalized training experiences for athletes and coaches across endurance sports, strength training, and performance development.

The acquisition coincides with continued momentum in Garmin's fitness business segment. In Q2 2024, the company achieved record total revenue of approximately $2.02 billion, up 11% year-over-year, while fitness business revenue grew 25% to $757 million, with growth across all product categories. Strong demand for wearables including Forerunner, Vívoactive, and Venu devices drove the expansion.

Missy Yang, Garmin Thailand Country Manager, stated: "Garmin's global fitness business growth of 25% in Q2 reflects sustained demand for health and training technology. This trend is clearly evident in Thailand as well, with Garmin achieving 30% operational growth in Q2 and 36% in the first half of 2024 compared to the same period last year, primarily driven by fitness products, especially running and wellness categories. Integrating TrainingPeaks and TrainHeroic into Garmin's ecosystem represents another significant step in advancing fitness capabilities by combining training tools, performance data, insights, and coaching services to deliver a more comprehensive experience for users at all levels, from beginners to serious athletes."

For Thailand specifically, continued growth in health and fitness interest is evident, with consumers prioritizing technology that enhances personal health understanding and enables data-driven training improvements. The integration of both organizations' strengths will expand options and elevate the user experience to better address diverse consumer needs.

Andy Stephens, Chief Executive Officer of Peaksware Holdings (parent company of TrainingPeaks and TrainHeroic), said: "We are delighted to partner with Garmin to advance our mission of supporting athletes and coaches through science-based training approaches. Over more than a decade, TrainingPeaks and TrainHeroic have developed solutions making coaching and performance insights widely accessible, supporting millions of athletes worldwide in developing their potential and achieving their goals through structured, data-driven training. Together, we will further advance the future of athletic training and development."

Garmin develops products with the philosophy "Engineered on the inside for life on the outside," designing technology for full living in the real world. Garmin products have transformed aviation, automotive, fitness, marine, and outdoor markets, enabling people to fully enjoy their passions while committed to daily innovation and pushing boundaries.