SILVER SPRING, MD -- Motionsoft, a club management solutions provider based in Silver Spring, MD, has acquired Baltimore-based Conexion and Conexion Tan, companies that specialize in club management software, accounts receivables and financial services programs.
The acquisition more than doubles Motionsoft’s annual operating revenues, according to a press release, while expanding the company’s client base to more than 1,500 health and fitness clubs, hospital and corporate wellness centers, university-based facilities and tanning salons worldwide.
“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,” Al Noshirvani, Motionsoft’s CEO, said in a statement. “Clients will continue to find Motionsoft an organization that develops tailored solutions able to meet specific client requirements allowing for greater flexibility and control of their businesses.”
Noshirvani will continue to serve as Motionsoft CEO, while Conexion CEO Benson Fine will be appointed Motionsoft’s Chairman of the Board. The rest of the management team of the combined organization, which will market under the Motionsoft brand, includes senior managers and executives from both companies.
“Like Conexion, Motionsoft has served the health and wellness industry for over 25 years,” Fine said in a statement. “Our companies are synergistic. Our management teams, products and services offerings, and commitment to excellent service make this pairing particularly advantageous to our clients and the entire industry.”
Pete Moore, principal and head of the Active Lifestyle & Wellness group at Sagent Advisors Inc., a New York-based investment banking firm, says the merger should set off further acquisitions and partnerships in the technology sector of the health club industry.
“Consolidation, inevitably, will create more powerful players who will be capable of providing the resources, capital and innovation to advance our industry,” Moore says. “Bottom line, enhanced technologies will lead to our collective success, and larger software providers will make this happen more quickly.”
Terms of the deal were not disclosed.