![\"Xplor\"](\"http:\/\/www.clubinsideronline.com\/news\/wp-content\/uploads\/Xplor.jpg\")
Xplor<\/p>\nXplor<\/p>\n
ATLANTA, GA<\/strong> and CINCINNATI, OH<\/strong> – Xplor Technologies (“Xplor”), a global platform providing software and embedded payments solutions to businesses in “everyday life” verticals such as childcare & education, fitness & wellbeing, field services, and personal services, and Clubessential Holdings, a global SaaS and embedded payments provider for membership-based organizations, announce that they have entered into a definitive agreement to combine their businesses. Terms of the agreement were not disclosed.<\/p>\n The merger forms a global provider of software and payment solutions for Fitness & Wellness, Golf & Club, Parks & Recreation, and Home Services. The combined organization will serve more than 130,000 customers worldwide, process $47 billion in annual payments volume, employ approximately 2,500 people, and generate nearly $900 million in annual revenue. Customers can expect business as usual, while also benefiting from the scale, best practices, resources, and innovation shared across the expanded platform.<\/p>\n “I’m excited for the future we’ll build as one team,” said Randy Eckels, CEO of Clubessential Holdings. “Both companies have spent the last decade redefining what’s possible in software and payments. Now, we’ll bring that momentum together to accelerate innovation and deliver even more value to our customers.”<\/p>\n Following the close of the transaction, the combined organization will be led by Randy Eckels, current CEO of Clubessential Holdings. Xplor CEO Pamela Joseph will transition to a non-executive director role on the company’s Board of Directors, and Xplor CFO Justin LaChance will expand his role across the combined company.<\/p>\n “This is a milestone built on combining proven technology with the people who know how to push it further,” said Joseph. “Together, we’ll be able to move faster, better serve the evolving needs of our markets, and open new opportunities for our customers and partners.”<\/p>\n The combined organization will continue to be majority-backed by Xplor’s majority owner Advent International, a leading global private equity investor, with Clubessential Holdings’ backers Battery Ventures and Silver Lake continuing as significant minority investors and active members of the Board of Directors.<\/p>\n The merger is expected to close by year end, subject to regulatory approval and customary closing conditions. Until then, the two companies will continue to operate independently.<\/p>\n JP Morgan Securities LLC served as financial advisor and Cooley LLP served as legal advisor to Clubessential Holdings. Goldman Sachs & Co. LLC, Barclays, and UBS Investment Bank served as financial advisor and Weil, Gotshal & Manges LLP served as legal advisor to Xplor.<\/p>\n","protected":false},"excerpt":{"rendered":" ATLANTA, GA<\/strong> and CINCINNATI, OH<\/strong> – Xplor Technologies (“Xplor”), a global platform providing software and embedded payments solutions to businesses in “everyday life” verticals, and Clubessential Holdings, a global SaaS and embedded payments provider for membership-based organizations, announce that they have entered into a definitive agreement to combine their businesses. Terms of the agreement were not disclosed.<\/p>\n","protected":false},"author":1,"featured_media":9903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[579],"_links":{"self":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/11693"}],"collection":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/comments?post=11693"}],"version-history":[{"count":1,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/11693\/revisions"}],"predecessor-version":[{"id":11694,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/11693\/revisions\/11694"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/media\/9903"}],"wp:attachment":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/media?parent=11693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/categories?post=11693"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/tags?post=11693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}