Here's what DCR had to say.

this is gonna have big ramifications for the bike computer industry – both consumers and other competitors. For their competitors, the news will undoubtedly give them heartache, likely more so Wahoo and Stages than Garmin. Inversely, consumers should be celebrating this. Hammerhead’s been doing some incredible stuff over the last year especially, and unquestionably this will help further that goal. There’s only so much you can do with limited resources to compete with the resources of a company like Garmin’s size, and this will certainly help those efforts.

Also says Hammerhead is keeping all of their staff and priorities and working independently.