FATBMX Your Online BMX News Resource Since 1998

and reduce the consequences of accidents for gravity sports athletes by developing and continually renewing what personal protection is all about.

Under the terms of the definitive agreement, Black Diamond will purchase POC for approximately 311,000,000 Swedish SEK, including 460,000 shares of BDE common stock, payable at closing, plus an additional 90,000,000 SEK payable in a series of significant, long-term, performance-based incentives payable to management and structured as compensation with multiple measurement and payment dates over a six and a half year period.

POC Founder and CEO Stefan Ytterborn explains, "POC has had a fantastic journey since its first season in 05/06, growing fast in all major markets. To match our size and future needs, we needed to balance a demanding situation with a partner who inherently understood POC’s culture, aesthetic and mission. We had a handful of interesting proposals but it wasn't until Black Diamond came along and I got to visit their Salt Lake City, Utah, operations that I believed that POC and Black Diamond are the perfect match.”

For its fiscal year ended April 30, 2012, POC’s unaudited total revenues were 148,387,000 SEK an increase of approximately 34.7% over the prior year, in spite of a warm and dry winter globally. POC will continue to be located in Stockholm and be operated as a separate and discreet subsidiary of Black Diamond, Inc.

Ytterborn continues, “Black Diamond’s sincere perspective on users, product innovation, quality, safety and stubborn approach to simply be better aligns ideally with POC. Upon return to Stockholm, I shared my view with colleagues and the Board of Directors and 10 months later, we're signing the agreement. Besides the cultural tangents, there are numerous assets at Black Diamond that are expected to yield more efficient sourcing, manufacturing, logistics, sales and distribution that is expected to allow POC to accelerate even faster.”