Fitness technology company Wexer acquired Dutch-based company ClubVirtual last week, according to an announcement by Wexer, London, England. The purchase price was not disclosed.
ClubVirtual will continue to produce virtual fitness content under the ClubVirtual consumer facing brand.
"I’m incredibly proud today as Wexer becomes the first fitness technology company to complete an acquisition of this kind," Wexer CEO Paul Bowman wrote in a post on Wexer's LinkedIn page.
Wexer offers virtual fitness and has virtual installations in more than 40 countries. Wexer’s mission will remain the same after the acquisition: making world-class exercise accessible to more people through technology, according to the announcement.
Bowman said that this acquisition is part of Wexer's overall growth strategy.
“Over the past eight years, we have been able to secure a very strong market position across all continents, predominantly by helping operators transform dead studio space into active space through the use of virtual classes.” he said. “Now, we are additionally helping clubs expand outside their four walls through streaming and mobile technology. This acquisition will allow us to empower more club groups faster when it comes to creating digital ecosystems to engage their members.”
The fitness industry is undergoing a period of intense change that is rapidly redrawing the competitive landscape and breaking down barriers between brick-and-mortar and technology, according to the release.
"This acquisition will allow us to empower more club groups faster and accelerate the growth of Wexer when it comes to creating digital ecosystems to engage their members," Bowman wrote in the LinkedIn post.
ClubVirtual CEO Laurens de Kock said in the release: "The thinking between our two companies is very aligned and becoming part of Wexer is a great next step for us as well as an incredible opportunity for our clients. We really look forward to continuing to support key operators in their endeavours to be of value to their members 24/7 through the use of technology, and excited to be on the forefront of this transformation of our industry."