Comprehensive M&A data with integrated detailed company information
ABC flexes its muscles with Trainerize deal
Posted on Tuesday, 15 September 2020 14:44
ABC Financial Services has snapped up Canada-based mobile fitness platform Trainerize for an undisclosed sum.
Zephyr, the M&A database published by Bureau van Dijk, shows the transaction represents the buyer’s second acquisition this year.
In July, ABC picked up Australian-based sales management software developer GymSales Software. No financial details were announced.
Located in Vancouver, Trainerize connects clubs, trainers and gym members and allows them to provide customers with instructional and workout content, virtual-personal training programmes and on-demand and broadcast classes, among other activities.
Its platform also offers in-application text and video messaging features, fitness challenges and community groups.
Trainerize enables trainers to collect payments and automate their entire business, from program creation and online marketing, through to product delivery and final sale.
The group has 300,000 active users and its app is used for 25,000 workouts per day.
Following closing, ABC will add Trainerize’s entire workforce to its operations.
As a result of the transaction, the buyer’s clients will be able to purchase the target as an add-on module and the platform will continue to be available as a stand-alone product.
Sharad Mohan, chief executive of Trainerize, said: “As people discover new ways to access health and fitness content, we are enabling trainers and fitness operators to bring together exercise, nutrition and health to create the total fitness experience, personalised and powered by technology, wearable data and app integrations.”
The deal is also in line with ABC’s strategy to support holistic club management and provide tools to help identify and convert prospective fitness members, as well as target and manage add-on opportunities.
According to Zephyr, there have been 3,063 deals targeting software publishers announced globally in 2020 to date, compared to the 3,638 transactions signed off over the corresponding period of last year.
In the joint-largest of these, Aveva Group agreed to buy US-based OSIsoft for USD 5.00 billion, while Insight Holdings Group picked up Veeam Software Holding for the same amount.
Other companies targeted in this sector so far this year include the likes of Epicor Software, naviHealth and Vlocity.
© Zephus Ltd