Here's Who Peloton Just Acquired for $420 Million
Connected-fitness company Peloton Interactive (NASDAQ: PTON) agreed to acquire fellow fitness company Precor after the market closed on Monday. The $420 million acquisition expands Peloton's manufacturing capabilities, grows its potential customer base, and benefits from Precor's experience and research/development teams.
At the end of the first quarter of its fiscal 2021, Peloton had $2 billion in cash, cash equivalents, and marketable securities. While the company's official press release didn't disclose how its acquisition of Precor will be financed, Peloton has enough cash on hand to fund the deal if it so chooses.
Image source: Peloton Interactive.
Source Fool.com
