ADDleisure acquires ClubRunner
ADDleisure has acquired leading leisure management software provider ClubRunner (Europe) Ltd through its 50.2 percent-owned subsidiary Digital Plantation Ltd.
ClubRunner specialises in providing IT solutions to the hotel, health & fitness, play and golf markets, with existing high-profile clients such as Livingwell Hilton Hotels, Gambado, Ramada Jarvis and PlayGolf. The move complements Digital's range of proprietary intelligent booking software for the day and destination Spa markets. ADDleisure Chief Executive David Turner said, "This acquisition is an important development in the Company’s growth strategy".
Digital will pay up to £1.416m cash and issue 102 Digital shares representing 24.9% of Digital's enlarged share capital.The cash amount includes a fixed component of £500,000, with further payments subject to performance criteria. ClubRunner had an unaudited turnover of £1.39m and a pretax loss of £3,000 for the year ended April 30, 2008.
