Friday, May 14, 2021 - 08:33

Cesena (Italy), 14 May 2021 - Technogym S.p.A. ("Technogym"), in line with the strategy of developing its own Mywellness software platform, informs that today it has signed the binding agreement for the sale to Battery Ventures, a US investment company, of all the shares of Amleto ApS, a holding company that exclusively owns the entire share capital of Exerp ApS, a Danish company active in club members management software (“Exerp”), following the acquisition by Amleto ApS of the shares held in Exerp by the minority shareholders.

Technogym’s Mywellness platform, already present in 18 thousand fitness clubs in the world, will continue to be compatible with all management softwares in the industry in the world, including Exerp, by maintaining the current commercial agreement. The financial resources deriving from the sale of Exerp will be used by Technogym for the digital and content development in order to expand its ecosystem.

The agreement provides for a consideration of Euro 53.1 million and will allow Technogym to record an overall capital gain of Euro 17.1 million. The closing of the transaction is expected to be carried out by the end of this month of May.

The participation in Exerp, purchased in 2016 through Amleto ApS, has never been subject to line-by-line consolidation by Technogym.