I hope that this is more than an IP and branding grab, and Giant will offer support to Stages’ customers. The article isn’t clear on this point, however, so who knows.
Giant Group, through its SPIA Cycling subsidiary, has acquired Stages Cycling from Foundation Fitness for $20.1 million. A U.S. bankruptcy judge has approved a purchase agreement, which had been opposed by some creditors and an inventor who is in a patent dispute with Stages.