Technogym acquires controlling stake in software specialist Exerp
Technogym has entered into a share purchase agreement to acquire a majority stake in Exerp – a global digital specialist in fitness club member engagement software.
The deal sees Technogym acquire a 50.01% stake, with minority shareholders of Exerp and its management retaining 30% ownership. The remaining 19.99% share is controlled by the founders and Exerp employees.
A statement from Technogym explained that “the partnership between Technogym and Exerp strengthens the digital ecosystem and increases the company capability to offer fitness operators a complete solution to improve the end user experience.
“The integration between Technogym’s mywellness cloud – the wellness lifestyle CRM – and the Exerp platform – one of the best fitness club ERP – completes the world’s first and only lifestyle management ‘open platform’, thanks to the integration of proprietary and third party apps, the most popular wearable devices and biometric tracking devices.
“The deal with Exerp fosters Technogym capability to ensure industry operators the possibility to define new business models to provide end users with new services, not only indoor, but also outdoor through an easy, engaging and seamless interface.”
Exerp has considerable knowledge of the business requirements that underlie the operations of some of the world’s largest and most recognised fitness chains. The Exerp Platform aim is to transform operator’s businesses by reducing cost, promoting simplicity and fundamentally changing the way they interact with their members.
Announcing the acquisition, Technogym founder and Chief Executive Nerio Alessandri stated “this deal confirms the Technogym commitment to digital innovation in the industry and strengthen our strategic approach toward solution selling to offer operators the opportunity to generate better profits and to enable end users to get better results in terms of fitness, sport and health.
“Moreover, the Technogym Ecosystem allows fitness clubs to shape new business models by connecting with insurances, corporate and medical operators.”
Technogym did not disclose the amount it paid for its stake in Exerp.
Technogym’s acquisition follows considerable takeover activity in the fitness industry in the past year as companies seek mergers to enhance profitability and consolidate market presence.
Life Fitness recently expanded its reach by acquiring Cybex, while, last year, Precor enhanced it functional fitness presence by buying Queenax and Nautilus acquired Octane Fitness late last year.
Click here to contact Technogym Australia via their entry in the Australasian Leisure Management Supplier Directory.
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