Brunswick Corporation BC has acquired Fliteboard, a provider of eFoiling technology, for an undisclosed sum to enhance its electrification and shared-access strategies.
Fliteboard, combines advanced hydrofoils and electric propulsion on the water, thus allowing Brunswick to enter the emerging, electric-foiling surfboard market.
Fliteboard will operate as a business within Mercury Marine.
The move also provides an opportunity for technological, manufacturing, commercial, and consumer synergies with the existing Brunswick portfolio.
"Fliteboard's exceptional brand appeal and its advanced eFoiling technology align with our ACES strategy, and we are excited to bring the Fliteboard team into the Brunswick family," said Brunswick CEO Dave Foulkes.
Brunswick held $489.3 million in cash and equivalents as of July 1, 2023.
Price Action: BC shares closed higher by 2.68% at $81.24 on Friday.
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