|
|
News Archive
|
|
ClubCom to Acquire Enercise
Acquisition will bring the world's two leading manufacturers
of fitness entertainment equipment under the ClubCom umbrella.
PITTSBURGH & LOS ANGELES (February 26, 2003) - ClubCom, the world's leading provider
of private media networks for commercial health clubs, and Enercise, a leading developer
and manufacturer of exercise entertainment hardware products, have announced plans
for the acquisition by ClubCom of all of the outstanding stock of Enercise for
a combination of cash and securities. The parties expect to close on the transaction
by the end of April.
The acquisition will bring the world's two leading manufacturers of exercise entertainment
hardware, as well as the significant installation base of E-Zone screens, under
the ownership and control of ClubCom. Cardio Theater, a wholly owned subsidiary
of ClubCom, is the world's largest exercise entertainment manufacturer with over
7,500 fitness facility installations. Enercise Inc., a company started in 2001
by former BroadcastVision executive Tony Garcia, has enjoyed exponential growth
due to its innovative products and the tremendous expansion of the exercise
entertainment
|
|
|
|
category. Enercise is expected to establish itself as the second largest
entertainment company in the category behind Cardio Theater by the end of 2003.
Cardio Theater and Enercise will continue to operate as two independent companies
and directly compete in the marketplace.
"The acquisition further reflects our commitment to the entertainment hardware
category," states Tom Lapcevic, CEO of ClubCom. "Clearly, our health club partners
are best served by preserving market competition regarding hardware products while
assuring underlying compatibility with our private media networks. We believe Enercise
will play a substantial role in the future."
"This is precisely what Enercise needed to immediately strengthen our market positioning
and realize our objective of becoming a world wide leader in entertainment technology,"
claims Tony Garcia, President of Enercise. "With the resources of ClubCom and access
to their extensive intellectual properties and programming content, we are confident
we will provide the most innovate and reliable products available anywhere".
Under the terms of the relationship, ClubCom will license to Enercise the right to utilize
the ClubCom patents covering an array of personal viewing screen functions including
video-on-demand, customized content delivery, digital/analog weighting and other proprietary
features necessary for personal viewing applications.
"The future business in personal viewing screens is questionable without access
to the ClubCom patents and delivery system," explains Garcia. "Now fitness facilities
can be confident that with ClubCom technology, Enercise will provide one of the most
stable and expandable entertainment systems available."
About ClubCom: ClubCom's networks regularly entertain over 5 million patrons
concentrated in many of the nation's top media markets. ClubCom is expected reach
over 8 million patrons by the end of 2003. ClubCom provides each of its health club
partners with a fully integrated private media network that, according to 80% of its
viewers, "makes working out more enjoyable" while securing a 65% advertisement recollection
(Source: Nielsen Media Services). ClubCom has programming and sponsorship arrangements
with numerous national media companies, including DMX MUSIC, and operates award-winning
production studios that produce promotional television commercials for its health club
and sponsorship partners. ClubCom services some of the largest and most respected health
club organizations in the fitness industry.
|
|
|