Acquisition Alert: Wexer Acquires Digital Fitness Experience Provider Intelivideo; Wexer CEO Says 2023 is a ‘Pivotal Year’
The deal boosts Wexer’s U.S. footprint
UK-based virtual fitness solutions provider Wexer has acquired Intelivideo, a digital fitness experience provider, significantly boosting its presence in the U.S. market.
Wexer CEO Paul Bowman stated that the company has long planned to scale via acquisitions to consolidate the digital fitness sector, with Intelivideo leading the way.
“This Intelivideo deal is the first such acquisition, instantly and significantly growing Wexer’s presence, customer base and revenues in the U.S. market. It’s a very exciting step for us as we look to expand our footprint across multiple markets and verticals to become the leading global fitness and wellness content provider,” Bowman said.
Wexer’s CEO has said that to survive in a post-pandemic environment, fitness operators must adopt and embrace a physical-digital model and that the fitness industry is “ripe for digital transformation.”
The deal will offer Intelivideo customers new technology, content, and partnership opportunities, said Intelivideo CEO Matt Given.
“Wexer’s acquisition of Intelivideo is great news for us, our clients and their members. As digital fitness becomes a key weapon for fitness brands, Wexer’s leading technology platform and content distribution opportunities represent a huge opportunity for the premium Intelivideo client base,” Given said.
He added that Wexer has a long–term outlook on fitness and wellness, and Intelivideo will bring not only expertise in the VOD, live streaming, and digital tech space but a customer base of “digital pioneers.”
Last year, Wexer launched Virtual Connect, allowing fitness clubs to upload their content into the Wexer Player to enable on-demand and scheduled use.
Bowman has stated that this will be a “pivotal year” for Wexer, but it will not be easy with a global recession looming. Nonetheless, he reported a “steady rise” in health, fitness, and well-being spending and non-discretionary consumer spending.
Bowman revealed that Wexer’s technology development team and sales and marketing division would expand this year.
The fitness technology firm appointed a new Global Marketing Manager, Claire Evans, in January. Evans, who joined Wexer from fit tech agency SweatWorks, will oversee the expansion of Wexer’s global fitness and wellness opportunities.
“As we ramp up for growth, this new team will bring valuable knowledge and expertise across new markets and new verticals. There’s a real buzz about Wexer right now, and the talent we’re attracting proves it,” Bowman wrote in an open letter on Wexer’s blog.
Wexer will join the global fitness industry at IHRSA 2023 in San Diego March 20-22.
