Performance Motorsports Inc., Irvine, Calif., has purchased the assets of Innovate Motorsports Inc., a supplier of universal digital tuning tools for internal combustion engines, from Innovate Technologies Inc.
The acquisition of Innovate Motorsports Inc. will enhance PMi’s position as a leading supplier of technologically sophisticated performance products for the automotive and powersports aftermarkets, according to a press release.
The PMi group of companies currently includes brands JE Pistons, Wiseco Performance Products, K1 Technologies and ProX Racing Parts.
“Innovate Motorsports is an exciting addition to our family of high-performance companies,” said Steve Kelley, vice president of PMi. “We intend to aggressively expand Innovate’s industry-leading digital tuning and combustion management products and technologies and we will focus our considerable resources to enhance Innovate Motorsport’s delivery, market presence and value to our customers.”
Cort Charles, general manager of Innovate Motorsports, expressed his enthusiasm for the PMi acquisition.
“We are very excited to join the PMi family of companies,” he said. “PMi and Innovate Motorsports share a common vision-to focus upon providing performance enthusiasts with superior, high-performance products to enhance their vehicles. Being part of PMi’s respected stable of brands will offer Innovate Motorsports significant opportunities for growth and additional capabilities to further develop our brand, product technology and global presence.”