October 30: Misspao, the self-service mini fitness room, who raised RMB75 million last month, have announced that they will merge with 达卡运动 (literally translated as Daka Fitness) another player in the same sector.
Reportedly, it is the first deal to take place in the self-service mini fitness room sector. The deal will see Misspao remain as the brand of the new company, with Misspao CEO remaining in his position and Daka Fitness founder, inaugurated as the director of products.
Prior to this merger, Daka Fitness had signed with over 200 communities and was about to launch their mini fitness room to these communities. Now, the business has been taken over by the newly merged company, which will help accelerate their expansion and enhance their leading position in the self-service mini fitness room sector.
Daka Fitness reportedly has a team experienced in the fitness products design and manufacture. Jiang Zhiyong, Founder of Daka Fitness, believes that to combine with such a leader as Misspao will allow the two sides to tap their respective advantages and jointly speed up the development of the sector.
Proofread by Raymond Fitzpatrick