The union of Playlist’s software and consumer booking platforms with EGYM’s smart equipment and AI training tools creates one of the largest fitness technology entities globally, backed by $785m in fresh investment.
One of the largest consolidation moves in the fitness technology sector has closed, with Playlist — the parent company of Mindbody, Booker and ClassPass — completing its merger with EGYM, the Munich-based smart fitness equipment and corporate wellness company. The combined entity, announced March 31, 2026, is now valued at $7.5 billion (approximately €6.9 billion), with the two companies operating under a shared platform described as a full-stack fitness and wellness operating system.
A $785m equity raise anchors the deal
The transaction was supported by $785 million (approximately €720 million — verify at publication-date rate) in new equity investment, led by Affinity Partners. Existing investors Vista Equity Partners, Temasek and L Catterton also participated in the round. The capital is earmarked for continued investment in artificial intelligence (AI), personalization tools, operator software and platform connectivity across the combined business.
Scale at closing: 30 countries, 175,000+ venues and employer partners
At the time of closing, the merged group spans more than 40,000 Mindbody-powered fitness businesses, over 88,000 venues listed on ClassPass and more than 20,000 EGYM Wellpass employer partners. EGYM’s smart equipment is installed in over 33,000 fitness locations. The group collectively serves users across more than 30 countries and employs more than 3,000 people globally.
EGYM will now operate as a subsidiary of Playlist alongside Mindbody, Booker and ClassPass. The deal brings together two distinct but complementary capabilities: Playlist’s software-as-a-service (SaaS) booking infrastructure and consumer marketplace on one side, and EGYM’s connected strength equipment, AI-driven training personalization and corporate wellness aggregation on the other.
Software meets hardware: the strategic rationale
Fitness operators are increasingly forced to stitch together a patchwork of software tools, equipment ecosystems, corporate wellness programmes and consumer booking platforms. Playlist and EGYM say the merger is designed to bring those layers under one roof, creating a single, integrated offer for gym operators, corporate clients and individual users.
A consolidating fitness technology market
The deal underscores a wider shakeout in connected fitness and wellness tech, where the post-pandemic valuation reset has pushed remaining players toward scale-building acquisitions rather than slow organic growth. The downturn has been stark in high-profile cases such as Peloton, and it has sharpened the incentive for platforms to broaden their footprint and recurring revenue base.
A key asset in the combined group is EGYM’s corporate wellness arm, EGYM Wellpass, which provides a direct route into employer health benefits. That channel is gaining traction across parts of Europe as companies look for measurable, evidence-based wellbeing programs.
For sporting goods brands and equipment manufacturers, the enlarged network — including 33,000+ EGYM-equipped locations — is a distribution and partnership platform worth watching.
