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Peloton (NASDAQ: PTON) said it plans to acquire exercise equipment manufacturer Precor for $ 420 million to accelerate production of exercise bikes and treadmills and meet promised delivery times. As part of the deal, Peloton will acquire Precor's Whitsett, North Carolina, and Woodinville, Washington plants, which together have more than 625,000 square feet of manufacturing space. The deal will also boost Peloton's product development efforts by adding about 100 R&D staff to its existing workforce. Peloton shares jumped more than 5% after the close of major trading.

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