A few weeks ago, we reported that Peloton acquired Aiqudo. Today, we’re back with another rumored Peloton acquistion. Bob Treemore has discovered that Peloton has likely acquired Atlas Wearables.
Update: Peloton confirmed acquisition for talent
While no official announcement has been made,
Atlas Multi-Trainer is the only workout tracker that calibrates your form. Exercise ID is a movement recognition system exclusive to Atlas. It allows individual personalization, exercise detection, and repetition counting. And once calibrated, Exercise ID automatically identifies future exercises as you workout – creating a hands-free experience compatible with over 1,000 unique exercises.
A look at Atlas Wearables employees on LinkedIn shows that many of them have moved to Peloton as full-time employees, including the two co-founders. One of the co-founders is now working in AI, and the other is a Lead Engineer.
It’s possible that Peloton had interest in Atlas Wearable’s patent portfolio as well. It’s possible some of the technology will end up in the rumored Peloton rower or an upcoming strength product. It’s possible that Peloton will eventually ship a fitness tracker that could assist with outdoor running metrics.
Peloton said in its 10K that it had acquired three companies from October 2020 to December 2020.
During the three months ended December 31, 2020, the Company completed three separate transactions to acquire certain software, developed technology, and an assembled workforce for use in the development of the Company’s connected fitness products and services, for total net cash consideration paid of approximately $78.1 million, inclusive of $2.4 million of direct transaction costs. The Company accounted for each transaction as an asset acquisition in accordance with ASC 805.