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Giant Group has invested $20 million in Stage Cycling, acquiring 32.5 percent of the company’s common stock, according to a filing with the Taiwan Stock Exchange.
Stage, based in Portland, Oregon, manufactures stationary smart bikes for the commercial gym and home market, with Crankarm-based power meters and GPS bike computers. Giant has manufactured some Stage Smart and commercial indoor bikes for many years, and Giant also distributes some Giant-branded Stage GPS computers to its dealers globally.
As announced in Taiwan on January 20, Giant’s board acquired Stage Cycling Inc. for $6.5 million. Approved the purchase of 32.5 percent of the common stock of Stage Cycling and convertible corporate bonds of $13.5 million. Giant made the investment through its subsidiary Gavin US Eye Investments Inc.
Giant stated that its strategy is to expand the Giant Group’s presence within the indoor cycling market and to build out Giant’s “cycling ecosystem”.
“Through the integration of indoor and outdoor cycling products, Giant Group can provide consumers with a more comprehensive cycling experience, helping consumers enjoy the benefits and pleasures of cycling from outdoors to indoors and vice versa, and therefore The overall quality of driving experience improves.
“Through this strategic alliance, Giant Group can utilize its brand advantage within the professional cycling market and consolidate both manufacturing and distribution resources to maximize synergies. This, on the one hand, enhances both product and service value and on the other hand, creates a seamless online and offline cycling ecosystem, thereby aiming for future gradual long-term operational performance gains and enabling Giant Group to grow. can be enabled.
A representative for Stages Cycling said they were not yet able to comment.
