SUNNYVALE, CA -- Interactive Fitness Holdings (IFH) announced that it has acquired the assets and intellectual property of Expresso Fitness.
Today’s announcement is part of IFH’s strategy to acquire, organize and deliver interactive fitness solutions to commercial customers, the company said. The products are being re-launched as the Expresso line by Interactive Fitness Holdings.
“Products like Wii Fit and Dance Dance Revolution have demonstrated a large and growing consumer market for interactive fitness products and services,” Bill Stensrud, chairman of IFH, said in a statement. “The commercial market is just as exciting but lacks a compelling range of products with sound financial support. IFH will bring breakthrough solutions to commercial fitness facilities in the U.S. and around the world. Acquiring the Expresso technology is the first step. Expresso built a disruptive product line which was embraced with great enthusiasm by the commercial market. This is a terrific platform on which to build.”
IFH, founded this year, said its first priority will be to develop and deliver support services for the installed base of Expresso products. Brian Button, CEO of IFH, said service and parts products will be defined, priced and available within a week, and new finished bikes will be shipped within two weeks. Button added that IFH will maintain the networked servers at www.expresso.net which provide bike connectivity and that there will be no interruption of services.
“There are over 10,000 Expresso bikes installed,” Button said. “Their owners want to know that there is a financially sound organization committed to providing the staff, parts, procedures and services needed to support those bikes. IFH is taking on this role, starting immediately.”
Mark Urlage, IFH vice president of sales, said special pricing on service plans for Expresso’s customer base will be offered until Dec. 31 during the transition to IFH.
“We are celebrating a new business model, new life and the continuation of the Expresso vision,” Urlage said.More details about IFH and its acquisition of Expresso will be provided Nov. 16 at www.expresso.com.