OliveX has snapped up games-based fitness specialist Six to Start.
The health and fitness organisation will acquire the developer for $6.65 million. However, depending upon performance, an extra $2.85 million could be exchanged.
“At OliveX we're passionate about making fitness fun, and that’s exactly what Six to Start does," said OliveX CEO Keith Rumjahn.
"With average revenues per paid subscriber exceeding £25 a year, and with real growth potential, Six to Start will bring immediate value to OliveX.
"Most importantly though we see enormous benefit in their global, loyal, subscriber base and the team’s product design and monetisation expertise.”
The UK-based company has developed a number of gamified fitness apps, the best known of which, with 8.5 million downloads, is Zombies, Run.
Moreover, the app boasts 300,000 active users each month, of which around 50,000 pay for a subscription.
Adrian Hon, Six to Start CEO, will become OliveX's chief innovation officer as part of the acquisition. However, he will continue to serve as the executive director of Six to Start.
“Six to Start, has built a strong business model and a huge subscriber base of loyal users for our apps including Zombies, Run!, and our growth strategy is a perfect fit with OliveX’s," said Hon.
"We’ve both created innovative, game-changing technology that when combined will really advance the future of digital fitness, making the OliveX suite of products and solutions truly world-leading.
"I’m incredibly excited to join OliveX as Chief Innovation Officer, and I’m really looking forward to what lies ahead.”