TAIPEI, Taiwan--(BUSINESS WIRE)--
Dyaco Inc. (TWSE: 1598) and STUDIO announced today a strategic investment and long-term partnership, which is expected to accelerate promising growth for both companies in the global home fitness category. The new partnership leverages the respective strengths of Dyaco and STUDIO to create compelling value for both companies and their end-users.
This press release features multimedia. View the full release here:
Dyaco Announces a Strategic Investment into STUDIO To Make Connected Fitness Accessible To the Masses (Photo: Business Wire)
Dyaco recognizes the value of digital content and knows consumers are looking for fitness products that offer a comprehensive connected fitness solution. The partnership between Dyaco and STUDIO will combine quality fitness products with cutting edge technology and motivating instructor-led classes.
The terms of the investment are not being disclosed, though STUDIO will remain an independent company. Michael Lin, Chairman and Chief Executive Officer of Dyaco Inc., will be joining the STUDIO Board of Directors.
This partnership is strategic in its objectives. The strength of Dyaco's experience in the home fitness industry will be combined with the expertise of STUDIO’s fitness content production capabilities and leading technology through both STUDIO’s mobile app and home gym console.
The integration process will start with Dyaco's flagship brand SOLE, which will be supported by STUDIO’s mobile app and home gym console product. In addition, SOLE and STUDIO will cross-promote both products and services on their websites to help support the partnership.
“Dyaco continues to identify innovative approaches to partnerships that enable us to stay at the forefront of consumer trends in the fitness industry,” said Michael Lin, Chairman and Chief Executive Officer of Dyaco Inc.
“STUDIO has always believed that the winning formula in connected fitness is tying great software and content with high quality equipment. By partnering with Dyaco we get to make that vision a reality at an incredible scale,” said Jason L. Baptiste, Co-Founder and Chief Executive Officer of STUDIO.
Dyaco Inc.
Dyaco, Inc., based in Taiwan, is one of the world's leading designers, marketers, manufacturers, and brands distributor in both home and commercial fitness equipment industries, including treadmill, elliptical, fitness bike, and medical rehab, under the multiple brand strategies to distributing its own brand: SPIRIT, SOLE, XTERRA, and FUEL Fitness to covering the entire fitness market via its globally diversified strategies.
STUDIO
STUDIO makes any piece of fitness equipment smart. We make that possible with the world's first home gym console, which turns any existing television into a smarter home gym that displays detailed metrics like running speed, cycling cadence, or punch strength. Our console streams over 3,000+ on-demand classes taught by elite NYC instructors across treadmill, cycling, boxing, rowing, yoga, and strength. STUDIO was founded in 2017 by two longtime friends, fitness enthusiasts, and serial entrepreneurs, Jason L. Baptiste and Nathaniel McNamara. We’ve streamed tens of millions of minutes across hundreds of thousands of members.
View source version on businesswire.com:
