Worldwide: Wellbeing travel-tech startup BODDY has entered into a binding merger agreement with digital fitness network TrainAway.
The affiliation will create a global network of fitness and wellness operators which can be distributed to the travel and hospitality industry.
BODDY provides travellers with a platform to digitally search, compare, book, pay and access wellbeing experiences such as spas and gyms in specific locations. BODDY also partners with hotels, airlines and travel agencies to distribute these experiences to travellers within Europe and Asia.
TrainAway is a global digital network of more than 1,500 fitness clubs. The company provides travellers with a three-step process to search, book and access gyms on the go.
The core offering at TrainAway will now be incorporated into BODDY’s framework whilst allowing BODDY to expand its presence to more than 30 countries.
TrainAway CEO, Kenn Gudbergsen, will join BODDY as the company’s chief commercial officer in the combined entity.
Gudbergsen said: “The next few months are going to be filled with thrill and excitement as TrainAway and BODDY work closely towards a joint vision of making wellbeing experiences accessible for millions of people worldwide. By joining forces, we strongly believe we can deliver the benefits of both companies to all stakeholders involved. Our partners now have the opportunity to unlock new revenue streams while customers get access to a more refined global offering. Operating in fragmented and under digitised multi-trillion-dollar markets presents a fantastic opportunity.”
Hannes Boller, CEO of BODDY, said: “This is an extraordinary milestone for both BODDY and TrainAway. Since spring last year, during countless conversations and constructive dialogue, we’ve been constantly learning about our respective vision, business lines and growth plans. We were highly impressed by TrainAway’s relentless focus on consumers which perfectly fits into BODDY’s spirit of putting clients and partners always first. It became obvious very quickly that we share the same north star and through the complementary nature of our footprint, assets, products, and technology, this will be the perfect synergetic match.”
Sandro Abegg, co-founder and COO of BODDY, added: “We’re highly enthusiastic about the joint growth prospects and of course working hand in hand with a highly skilled team who managed to become a truly global company in less than five years. With both companies having weathered the greatest challenge in travel history, we are now even stronger positioned to execute on our combined vision of bringing the best wellbeing experiences to health-conscious travellers around the world, helping to make the planet a healthier place.”
MLL Legal (Zurich, Switzerland), Samar Law (Copenhagen, Denmark), Hitz & Partner Corporate Finance (Luzern, Switzerland), and Becker // Fich, Financial Advisory (Copenhagen, Denmark) all advised on the transaction.
