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, based in Denmark.
The deal – due to close on 8 April for an undisclosed amount – sees Technogym acquire a 50.01 per cent stake, with minority shareholders of Exerp and its management retaining 30 per cent ownership. The remaining 19.99 per cent share is controlled by the founders and Exerp employees.
Technogym expects the new partnership with Exerp to strengthen its digital ecosystem and increase the company’s capability to offer fitness operators a complete solution to improve the end user experience. It will integrate Technogym’s mywellness cloud CRM with the Exerp ERP platform to offer a wellness lifestyle “open platform” integrating proprietary third party apps, wearable devices and biometric tracking devices.
“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,” said Nerio Alessandri, founder and CEO of Technogym.
“Moreover, the Technogym Ecosystem allows fitness clubs to shape new business models by connecting with insurances, corporate and medical operators.”
The deal adds to the flurry of activity in the fitness supplier market in recent months as companies seek mergers to enhance profitability and consolidate market presence. Life Fitness recently expanded its reach by acquiring Cybex
, while Precor upped the ante on its functional fitness ambitions by buying Queenax
and Nautilus acquired Octane Fitness late last year.