EverCommerce Announces Divestiture Of Its Fitness Solutions, Selling To Jonas Software; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
EverCommerce Inc. (NASDAQ:EVCM) is divesting its fitness solutions, including ClubOS, ASF, ClubWise, and My PT Hub, to Jonas Software. The fitness solutions, which represent less than 4% of EverCommerce's 2023 revenue, are being sold to allow EverCommerce to focus on higher growth, larger market opportunities. The transaction is expected to close in two parts, with the North American businesses already closed and the international businesses expected to close in Q3 2024. EverCommerce's CEO Eric Remer believes this move is beneficial for customers, employees, and investors by leveraging Jonas Software's larger scale.
March 13, 2024 | 1:11 pm
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EverCommerce is selling its fitness solutions to Jonas Software, aiming to concentrate on higher growth areas. This divestiture represents less than 4% of its 2023 revenue.
The divestiture of a small, less significant portion of EverCommerce's business could be seen positively by investors as it allows the company to focus on more lucrative market opportunities. The sale to Jonas Software, a leader in the space, suggests a strategic move to optimize resources and potentially enhance shareholder value.
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