Streaming video provider Gaia Inc. (Nasdaq: GAIA) is expanding its ability to provide viewers with yoga content with an agreement to acquire the digital platform Yoga International Inc.
The cash and stock transaction is worth $ 18.5 million, according to a disclosure filed Thursday with the U.S. Securities and Exchange Commission.
Launched in 1991 as a print magazine, YI has since grown into a web-based video content company that will bring 4,000 hours of unique yoga content to Gaia’s library.
“Over 250,000 of our members worldwide practice yoga on Gaia, while taking advantage of our broader content offerings,” Gaia CEO Paul Tarell said in a statement. “As we continue to create and find meaningful content, grow subscribers and grow internationally, we are thrilled to welcome the Yoga International community to Gaia. We look forward to continuing the legacy that Yoga International and the Himalayan Institute have built over decades. Like Gaia, they celebrated the practice of yoga as more than a purely physical pursuit while reconnecting with the deeper roots of yoga traditions.
YI was formed by the Pennsylvania-based Himalayan Institute, which offers yoga retreats, seminars, and certifications.
“We are delighted that Yoga International has found its new home with Gaia. As a leader in expanding consciousness media, including online yoga content, Gaia shares Yoga International’s passion for enabling the personal growth of its members, ”said Himalayan Institute CEO Ishan Tigunait, in a prepared statement. “Yoga has evolved from a niche discipline to a conscious and culturally relevant lifestyle, and is the quintessential embodiment of well-being in the 21st century. The Himalayan Institute is delighted to transfer the leadership of Yoga International to Gaia and looks forward to the positive impact Gaia will have on the world as he continues to share the practice of Yoga around the world.
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