Fri Sep 20 08:09:42 UTC 2024: ## Giant Acquires Stages Cycling for $20.1 Million, Expanding Indoor Cycling Ecosystem

**Taipei, Taiwan** – Giant Bicycles has finalized the acquisition of Stages Cycling for a reported $20.1 million, marking a significant expansion of the company’s indoor cycling offerings. The deal, which includes all of Stages’ assets and intellectual property, was completed through Giant’s subsidiary SPIA Cycling Inc.

The move comes after a series of negotiations and legal battles between the two companies. In early 2023, Giant had initially agreed to acquire a 32.5% stake in Stages for $20 million, but the deal fell through. Later, Giant filed a lawsuit against Stages for unpaid invoices, culminating in Stages ceasing operations in April.

The acquisition follows a “stalking horse” bid by SPIA Cycling Inc. in July, where the subsidiary offered a minimum price for Stages’ assets during its bankruptcy proceedings. This secured the deal against potential competitors and received approval from a U.S. bankruptcy judge.

“We are thrilled to integrate Stages Cycling’s assets into our organization,” said Donald Yu, President of SPIA Cycling Inc. “This acquisition aligns with our strategic goals and enhances our capabilities in both indoor and outdoor cycling. We are committed to leveraging these assets to drive innovation and deliver greater value to our customers and stakeholders.”

The acquisition is expected to bolster Giant’s presence in the indoor cycling market, where it has a long history of manufacturing for other brands. It will also enable the company to enhance its cycling data capabilities and create a comprehensive indoor/outdoor cycling ecosystem.

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