RTTNews | Sep 2, 2021 07:53AM EDT

07:53 Thursday, September 2, 2021 (RTTNews.com) - Nautilus, Inc. (NLS), a digitally connected home fitness solutions provider, announced Thursday that it has entered into a definitive agreement to acquire VAY, a provider of motion technology.

Financial terms of the deal were not disclosed. The transaction is expected to close in the coming weeks pending customary closing conditions.

VAY's proprietary technology enables computers to understand human motion using cameras through a combination of machine learning expertise and a deep knowledge of human biomechanics. VAY's computer vision software analyzes movements and provides real-time feedback on exercises, enabling repetition counting, form tracking and customized coaching.

The acquisition of VAY is in support of the company's North Star: Journey to 2026 strategy.

The acquisition will allow Nautilus to scale its JRNY digital platform by providing foundational technologies. JRNY members will be able to use this technology with its existing and future Bowflex and Schwinn strength and cardio products, in addition to off-product workouts.

The VAY management and technical teams will join Nautilus as part of its software development group.

Nautilus said it continues to expect the digital subscription business to represent around 20% of total revenue and is targeting to have 2 million JRNY members by FYE 2026.

The acquisition is expected to help Nautilus advance towards a new operating model that will have a more balanced portfolio of products and services expected to yield higher recurring revenue and long-term profit growth.

Read the original article on RTTNews ( https://www.rttnews.com/3222884/nautilus-to-buy-motion-technology-provider-vay-for-undisclosed-terms.aspx)

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