Nautilus, Inc. (NYSE:NLS) entered into a definitive agreement to acquire VAY AG for $30.8 million on September 2, 2021. Nautilus will integrate VAY's proprietary technology capabilities into its JRNY platform. VAY's management and technical teams will join Nautilus as part of its software development group. The transaction is subject to customary closing conditions and is expected to close in the coming weeks. Walder Wyss has advised the selling founders with regard to all legal aspects of the transaction. The team included Irène Suter-Sieber, Maurus Winzap, Fabienne Limacher, Michael Isler and Janine Corti.

Nautilus, Inc. (NYSE:NLS) completed the acquisition of VAY AG on September 17, 2021. The consideration is financed from cash on hand. Nautilus also acquired $0.23 million cash of VAY. Nautilus, Inc. granted an aggregate of 387,243 inducement restricted stock units and 387,243 inducement performance units. The contingent consideration arrangement of $3.9 million will be paid to the former owners of VAY upon achievement of milestones and recognized as compensatory expense over the service period. The restricted stock units and performance unit awards were approved by the Compensation Committee of the Board of Directors of Nautilus and were granted under the Inducement Stock Plan.