Benzinga | Nov 9, 2021 10:48AM EST

F45 Training Acquires Australian Fitness Company Vive Active For Undisclosed Sum

* F45 Training Holdings Inc (NYSE:FXLV) has agreed to acquire Australian fitness company Vive Active for an undisclosed sum. Vive offers reformer and mat Pilates workouts through in-studio, at-home streaming, and on-demand classes.

* The deal will result in F45's ownership of Vive's existing company-owned studios and Vive's at-home platform, Vive Stream.

* F45 intends to scale Vive by selectively adding new company-owned studios in key markets and accelerating the expansion of Vive in the U.S. and internationally.

* The company expects to close the deal during the fourth quarter of 2021 and fund the acquisition with cash on hand. It held $18.2 million in cash and equivalents as of June 30, 2021.

* Price Action: FXLV shares are trading lower by 0.56% at $15.92 on the last check Monday.