Tuesday, May 21, 2024

EverCommerce divests fitness software to Jonas Software By Investing.com

Must read

DENVER – EverCommerce Inc. (NASDAQ: EVCM), a service commerce platform, has announced the sale of its fitness software solutions to Jonas Software, a move that will see products such as ClubOS, ASF, ClubWise, and My PT Hub join the Jonas family of software solutions.

The transaction, which is expected to be completed in two parts, has already seen the North American businesses Club OS and ASF change hands, with the international businesses ClubWise and My PT Hub anticipated to follow in the third quarter of 2024, subject to regulatory approvals.

EverCommerce’s CEO, Eric Remer, stated that the fitness solutions, which represent less than 4% of the company’s 2023 revenue, are being sold to allow EverCommerce to concentrate on more lucrative market opportunities. Remer described the sale as beneficial for the fitness customers, employees, and investors, as Jonas Software is positioned to invest more aggressively in the products.

Arthur Morris, CEO of the PYXiS Software portfolio at Jonas, welcomed the addition of EverCommerce’s fitness solution employees and customers, expressing enthusiasm for the value they will bring to the company’s Fitness, Leisure, and Sports vertical.

The financial terms of the deal have not been disclosed. EverCommerce will discuss the details of the transaction during its Fourth Quarter 2023 earnings call, scheduled for Thursday.

EverCommerce specializes in providing SaaS solutions to service-based businesses, aiming to foster growth, streamline operations, and enhance customer retention. Its portfolio includes EverPro and EverHealth brands, which cater to the Home and Health service industries.

This divestiture is part of a strategic realignment for EverCommerce as it seeks to focus on its highest growth businesses. The information regarding the sale is based on a press release statement.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest article