Mergers and Acquistions News
Categories: IT Services & Consulting
July 13th 2009, 16:09PM
Motionsoft, which provides club management solutions to the health and wellness industry, has announced the acquisition of Conexion and Conexion Tan, both of which specialise in club management software.
According to Motionsoft, the acquisition more than doubles its annual operating revenues while increasing its client base to cover over 1,500 health and fitness clubs as well as hospitals and wellbeing centres.
Al Noshirvani, chief executive officer of Motionsoft, said the deal will help its clients to expand the flexibility and control of their businesses.
"The combination of Motionsoft and Conexion provides us greater access to industry know-how and capital funds which, in turn, solidifies our promise to deliver premium club management solutions - from software, financial services and beyond," he commented.
In October 2008, Motionsoft acquired the assets of Custom Design Systems, a privately-held company providing gym software.
The deal resulted in Motionsoft controlling the company's PowerManagement software, expanding its presence in the health and fitness markets.
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