Live Breaking News & Updates on Precor President Rob Barker
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Even if you’re not actively in crypto, you deserve to know what’s actually going on. Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing. Sponsored Peloton (NASDAQ: PTON), the leading interactive fitness platform, announced that it has entered into an agreement to acquire Precor, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence, in a transaction valued at $420 million USD. With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities with Precor’s highly-skilled team, and accelerate Peloton’s penetration of the commercial market. Peloton plans to produce connected fitness products in the U.S. before the end of the ....
Share: Peloton is acquiring Precor to establish Peloton s U.S. manufacturing footprint for its at-home bikes and treadmills.(Photo courtesy Peloton.) Peloton, New York, has entered into an agreement to acquire Precor, Woodinville, Washington, for $420 million from Finnish sporting goods company Amer Sports, according to a Dec. 21 announcement by Peloton. The transaction is expected to close in early 2021. Subject to the completion of the transaction, Precor will operate as a business unit within Peloton. Precor President Rob Barker will become CEO, Precor and general manager, Peloton Commercial. He will report to Peloton President William Lynch. With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities and accelerate Peloton’s penetration of the commercial market, the company said. ....
Ezra Shaw/Getty Images Peloton is acquiring the fitness equipment provider Precor for $420 million in cash from the Finnish sporting goods company Amer Sports. The move will give the maker of connected bikes and treadmills U.S. manufacturing capacity for the first time. Peloton (ticker: PLTN) says it expects to be producing connected fitness gear in the U.S. market before the end of calendar 2021. That will be welcome news for both investors and customers, given that recent product shortages have resulted in long delivery delays. Precor will operate as a separate business unit within Peloton, with current Precor President Rob Barker serving as CEO and reporting to Peloton President William Lynch. Amer Sports is owned by an investor group that includes ANTA Sports, FountainVest Partners, Anamered Investments and Tencent. The deal is expected to close in early 2021. ....
Geeky Gadgets 11:06 am To help fight off the ingress of Apple’s new Fitness+ service into the interactive fitness market, Peloton has this week announced the acquisition of Precor for $420 million. Precor is one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence. Earlier this month Apple launched their new highly anticipated Apple Fitness+ service, enabling those with Apple products to benefit from tailored workouts across a wide variety of different classes from yoga to rowing. “With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities with Precor’s highly-skilled team, and accelerate Peloton’s penetration of the commercial market. Peloton plans to produce connected fitness products in the U.S. before the end of the calendar year 2021. Subject to the completion of the transaction, Precor will operate as a business unit within Peloton ....
Peloton makes biggest purchase with US$420M Precor deal Mark Gurman and Jason Kelly, Bloomberg News Christine Poole discusses Peloton Peloton Interactive Inc. agreed to buy fitness-equipment company Precor for US$420 million to gain U.S. manufacturing capabilities and new expansion opportunities. The deal is expected to close early next year and is the largest to date for the New York-based maker of pricey bikes and treadmills. Shares of the company jumped eight per cent in extended trading. Peloton sales have soared this year as the pandemic shut gyms and forced people to work out from home. However, the company struggled to keep up with demand. That led to long wait times and frustrated customers. By making fitness equipment closer to U.S. consumers, Peloton will be able to deliver products sooner. Existing manufacturing facilities overseas will continue operating, according to the company. ....