(Bloomberg) -- Tempo, which competes with Peloton Interactive in the home fitness market, is finalizing a more than $100 million investment led by SoftBank, The Information reported, citing two people familiar with the matter.

The company’s new valuation couldn’t be learned, but it is expected to be less than $1 billion, one of the people told the news website.

Tempo didn’t immediately respond to a request for comment while SoftBank declined to comment to the Information.

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