US-based fitness company Nautilus, Inc. is to sell its Pearl iZumi apparel and footwear segment to Shimano American Corporation, a division of cycling and fishing equipment provider Shimano, Inc. The transaction is worth $69.5 million and is expected to close by March 31.

Nautilus' brand portfolio includes Bowflex, Schwinn Fitness, StairMaster and Universal. Formed in 1986, the company reported sales of $502 million for 2007 and has 1,450 employees.

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