Accell Group, the Dutch company owning a slew of bicycle and fitness brands, has agreed to acquire all shares of Currie Technologies, a leader in the U.S. market for e-bikes. The Californian company employs 40 people and reaches annual sales of about $20 million, with the I-Zip and E-Zip brands. Accell said the deal would enable it to take advantage of the expected growth of the U.S. e-bikes market, and to use some of Currie's patents for its development in other markets. The Dutch group pointed to a study by the Light Electrical Vehicle Association (LEVA) indicating that the U.S. e-bikes market consists of only about 50,000 units for the time being, but that it should start expanding along the same lines as in European countries in the coming years. Accell is financing the acquisition with its own resources and it will invest in marketing and technology to stimulate the growth of Currie Technologies. The Dutch group will consolidate Currie from the start of 2012 and it expects that the American company will contribute to its earnings per share within two years.

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