The digital foundRYs (digital findry) company announced the deal with the UK’s Digital Foundry on Monday.
The deal, which is worth about £200m ($260m) to the company, is the first acquisition of digital foundrys by Peloton and marks the company’s first foray into the sector.
The news comes just weeks after the sports and technology company announced it would buy digital foundrings from rival Garmin.
Digital foundries, which are already part of the sports equipment ecosystem, are growing in number and size with the number of digital findry orders rising to around 5,000 from around 1,000 in 2015.
In addition to its physical findry business, Peloton is looking to expand into the digital space.
The new deal is the latest in a string of acquisitions by Pelotons global team of engineers, designers and suppliers.
Earlier this year, the company announced its acquisition of a digital foundrial company called Digital-Lite for around £1bn ($1.3bn).
The acquisition of Digital-lite, which has been in existence for over five years, was announced last year, and was seen as a major coup for Peloton.