Walgreens buys digital video camera for $3.2B
The drugstore giant has agreed to buy a digital video recording company, Peloton, for $4.2 billion.
The deal closes a $3 billion deal to acquire the video-streaming company in a deal that was announced Monday.
The deal includes $2.3 billion in cash and stock and $1.2 million in restricted stock units.
The transaction closes a deal to buy Peloton in August that had been expected.CEO Michael Pachter said in a statement that the company has “successfully integrated Peloton into its portfolio of businesses” and that the acquisition is “designed to continue its momentum of delivering value and innovation for customers.”
Peloton’s digital video business has been expanding rapidly in recent years, expanding to include a line of cameras and cameras for medical and recreational use, Pachters statement said.
Pelovision is the parent company of Peloton and Peloton video.
The company is a global leader in the video recording market, including the video technology used by Amazon, Hulu, Facebook and other major video providers.