Product innovation
ADDLeisure acquires ClubRunner
ADDleisure plc, the AIM traded company formed to develop products and services in the health and wellness sector, has successfully acquired ClubRunner (Europe) Limited, a leading leisure management software provider.
The acquisition is through ADDLeisure's 50.2 per cent owned intelligent booking software subsidiary, Digital Plantation Ltd.
It is to be satisfied by the allotment and issue of 102 ordinary shares in Digital - representing 24.9 per cent of Digital’s enlarged issued share capital - and a cash payment of £500,000, with further payments of up to £916,000 in cash which is subject to certain performance criteria.
ClubRunner, established in 1995 by Stefan Drummond, provides IT solutions across the leisure industry, in particular the hotel, health & fitness, play and golf markets.
Its offering complements Digital’s range of proprietary intelligent booking software that specialises in the day and destination spa markets.
ADDLeisure's board believes that the considerable synergies which exist between the two companies will strengthen Digital’s ability to attract major new corporate clients both in the UK and internationally.