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EverCommerce Inc. (NASDAQ:EVCM), a leading service commerce platform, today announced that it is selling its fitness solutions to Jonas Software. EverCommerce's fitness solutions, including ClubOS, ASF, ClubWise and My PT Hub, which provide end-to-end business management software for large format gyms, specialty fitness and personal trainers, will become part of the Jonas family of software solutions upon close of the transaction.
"Our fitness solutions are well-regarded by our approximately 10,000 customer locations in the market but are less than 4% of EverCommerce's 2023 revenue, making it our smallest vertical market opportunity. We believe selling these solutions to Jonas Software, a larger player and leader in the space who can realize broader economies of scale and invest in the products at an accelerated rate, is the best outcome for our fitness customers, our current employees and our investors," said EverCommerce CEO Eric Remer. "This decision allows us to focus our investments on the highest growth, largest market opportunities in our business."
"We are excited to welcome the EverCommerce fitness solution employees and customers to Jonas Software. They will be a strong addition to our global Fitness, Leisure and Sports vertical," said Arthur Morris, CEO of the PYXiS Software portfolio at Jonas. "We are looking forward to working closely with the teams at ASF, Club OS, ClubWise and My PT Hub and helping them to drive increased value for their customers."
The transaction is expected to close in two parts. The North American businesses, Club OS and ASF, have closed simultaneous with signing. The international businesses, ClubWise and My PT Hub, are expected to close during the third quarter of 2024 following customary closing conditions and regulatory approvals. EverCommerce management will discuss the transaction on its Fourth Quarter 2023 earnings call, scheduled for 5pm ET on Thursday, March 14, 2024.
Posted In: EVCM
