Nautilus, Inc. Announces Acquisition of VAY, A Leader in Motion Technology

Nautilus, Inc. (NYSE: NLS) (“Nautilus,” “the Company”), an innovation leader in home fitness for over 30 years, today announced that it has entered into a definitive agreement to acquire VAY (pronounced “way”), a leader in motion technology.

Through a combination of machine learning expertise and a deep knowledge of human biomechanics, VAY’s proprietary technology enables computers to understand human motion using cameras. The acquisition will allow Nautilus to scale its JRNY digital platform by providing foundational technologies to power the Company’s vision and motion tracking capabilities that enable real-time data analysis during workouts. Nautilus will integrate these capabilities into its JRNY platform to further advance and accelerate highly personalized one-on-one workout experiences. 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, such as bodyweight, yoga and other floor exercises.

“As part of our North Star plan, we identified a need in the market for highly accurate form tracking and coaching. We believe that incorporating VAY’s technology into JRNY is the fastest way to accelerate our technical roadmap to deliver superior connected fitness experiences for our members and enhance the platform’s progress as a highly personalized one-on-one digital fitness coach. This acquisition directly supports our aim to continue evolving into a more digital company and helps us advance our software development capabilities,” said Jim Barr, CEO of Nautilus. “We also believe that this partnership will fundamentally change at-home fitness by helping customers reach their goals in a more personalized and scientific way.”

VAY’s computer vision software analyzes movements and provides real-time feedback on exercises, enabling repetition counting, form tracking and customized coaching. With this acquisition, VAY’s proprietary technology, experience and highly technical skillset will be committed to the development of Nautilus product offerings, which will create even more personalized fitness experiences for its customers. The VAY management and technical teams will join Nautilus as part of its software development group. Additionally, VAY has an existing partnership with ETH Zurich, one of the top science and technology universities in the world. This partnership will intensify through a collaboration with the ETH AI Center and the formation of a dedicated center of excellence for the pursuit of personalized fitness.