K-Swiss Picks up Faber’s Form Athletics
In recent weeks, it has been reported that Form Athletics, co-founded by Urijah Faber with former DC Shoes Senior VP Mark Miller, has been acquired by sneaker giant K-Swiss. Previously, reports have said that the purchase was made for an “undisclosed amount.” However, when you’re a publicly-traded company it’s only a matter of time before financial records must be disclosed. With that said, K-Swiss released their second-quarter results on August 5, 2010. Within the results, they released details behind the acquisition of Form Athletics. According to Yahoo! Finance, the young company (having only been launched 7 months ago) was purchased for $1.6M in cash as well as additional cash consideration to certain members of Form Athletics. There are further details regarding the retention of Form employees, etc., but overall it was a pretty sweet deal for all involved. It’s nice to see MMA fighters getting a piece of the pie in the apparel world, and they have brains in addition to their brawn.