NEW
YORK and LOGAN,
Utah, May 16, 2022 /PRNewswire/ -- Peloton
(NASDAQ: PTON) and iFIT announce today the settlement of all
pending litigation between them. All pending actions between the
companies will be dismissed. As a result of this comprehensive
settlement, iFIT has agreed to remove certain on-demand leaderboard
technology from its products, and Peloton has agreed to license
certain iFIT patents relating to remote control technology.
The parties are pleased to put the litigations behind them and will
have no further comment.
About Peloton
Peloton is the leading interactive
fitness platform in the world with a loyal community of more than
6.6 million Members. The company pioneered connected,
technology-enabled fitness, and the streaming of immersive,
instructor-led boutique classes for its Members anytime, anywhere.
Peloton makes fitness entertaining, approachable, effective, and
convenient, while fostering social connections that encourage its
Members to be the best versions of themselves. An innovator at the
nexus of fitness, technology, and media, Peloton has reinvented the
fitness industry by developing a first-of-its-kind subscription
platform that seamlessly combines the best equipment, proprietary
networked software, and world-class streaming digital fitness and
wellness content, creating a product that its Members love.
Consumers can access the brand's immersive content through the
Peloton Bike, Peloton Tread, Peloton Bike+, Peloton Guide and
Peloton App, which allows access to a full slate of fitness classes
across disciplines, on any iOS or Android device, Apple TV, Fire
TV, Roku TVs, and Chromecast and Android TV. Organizations and
enterprises have the opportunity to access select Peloton products
and the platform for their teams and customers through Peloton
Corporate Wellness or Peloton Commercial. Founded in 2012 and
headquartered in New York City,
Peloton has a growing number of retail showrooms across the US, UK,
Canada, Germany, and Australia. For more information, visit
www.onepeloton.com.
About iFIT
iFIT® is a global fitness and
well-being subscription technology company that provides unmatched
fitness experiences and solutions to its growing community of over
7.3 million members in over 120 countries. iFIT's industry-leading
brands – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and
29029® – are powered by the iFIT integrated health and fitness
platform, which seamlessly connects the company's proprietary
software, experiential content and interactive hardware. Based in
Logan, Utah, with offices in
Paris, Shanghai, Sydney and Leeds, the company offers immersive, adaptive,
personalized workout experiences for every fitness level and
interest. iFIT delivers these patented interactive experiences
through an extensive offering of live and on-demand content across
the industry's broadest range of connected fitness modalities. iFIT
is a pioneer and leader in the health and fitness industry with
more than 400 issued and pending patents.
Contacts:
Letena Lindsay, Peloton
press@onepeloton.com
Colleen Logan, iFIT
colleen.logan@ifit.com
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SOURCE Peloton