Major Merger Announced in Fitness Software Sector: Xplor and Clubessential to Combine Forces
Xplor Technologies and Clubessential Holdings to Merge, Forming a Global Leader in Software and Payments Solutions
In a significant move, Xplor Technologies and Clubessential Holdings have agreed to merge, creating a scaled global provider of software and payments solutions. The merged organization will be led by Gary Brown as CEO, with Randy Eckels taking the helm of the new company.
Advent International, Xplor's majority owner, will continue to back the new entity, while Clubessential investors Battery Ventures and Silver Lake will remain significant minority investors and board members. The deal is expected to close by the end of 2025.
The combined company is expected to process $47 billion in annual payments volume and generate nearly $900 million in annual revenue. With a workforce of approximately 2,500 employees, the merged organization will serve more than 130,000 customers worldwide, making a major presence in fitness and wellness, golf and club, parks and recreation, and home services.
Pamela Joseph, CEO of Xplor Technologies, will step into a non-executive director role on the board of the merged company, while Justin LaChance, current CFO of Xplor Technologies, will expand his role across the combined company.
Xplor Technologies owns platforms including Mariana Tek, and the new company will aim to move faster, better serve the evolving needs of their markets, and open new opportunities for their customers and partners. The merger will create a formidable force in the industry, offering a comprehensive suite of software and payments solutions to a diverse range of clients.
The merger is a testament to the strategic vision of both companies and their commitment to growth and innovation. As the digital landscape continues to evolve, the combined company is poised to lead the charge, delivering cutting-edge solutions to meet the needs of the modern world.
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