Tallinn-based e-bike maker Ampler has announced in a joint press conference with Kõu Mobility Group that the two are joining forces to, “strengthen their position in the micromobility industry and to continue making emotive zero-emission commuting accessible for everyone.”
While the financial details of the acquisition remain undisclosed, the two companies have agreed on an investment and share swap that will see Kõu Mobility Group become a 51 percent stakeholder in Ampler.
As part of the deal, Ampler will join group business units Comodule, a software and IoT solutions for light electric vehicles provider, e-scooter maker Äike, and Tuul, a rental service for electric scooters, and continue focusing on its e-bike manufacturing activities.
According to Kõu Mobility Group, all product development and manufacturing are done in-house, mainly in Estonia.
Ampler CEO Ardo Kaurit will remain in his position as CEO at Ampler and now joins the management team at Kõu Mobility Group.
"Ampler is very excited about joining forces with Kõu Mobility Group and forming this Estonian powerhouse in the fast-growing micromobility industry,” said Karit. “Ampler and Kõu Mobility Group have been pursuing a similar mission and have already cooperated in the past, so it made a lot of sense to take the next step. As they say - If you want to go far, go together."
I spoke to Ardo back in July of 2022 on the Tech.eu podcast about why smaller is sometimes better.