Nautilus Inc. announced on Thursday that it has agreed to acquire VAY, a developer of motion technology and software. Terms of the deal were not disclosed.
The acquisition will allow the at-home fitness company to scale its JRNY digital platform and improve its personalized one-on-one workout experiences.
Nautilus, which launched JRNY in 2019, acquired Schwinn (2001) and Bowflex (2002) as it looks to establish its footprint the $10.73 billion at-home fitness market:
- In April, Peloton completed its acquisition of Precor, a commercial fitness equipment company, for $420 million in cash.
- In July, iFIT, the parent company of NordicTrack, acquired women’s health and fitness platform Sweat for a reported $300 million.
- WHOOP, a fitness wearable company, announced on Thursday its acquisition of PUSH, a technology company focused on velocity-based training.
Nautilus is reaping the benefits of a surge in at-home fitness fueled by the pandemic.
The company generated $184.6 million in revenue for its fiscal first quarter, a 61.7% increase compared to the same period a year prior.