Fitness software, content and equipment company iFIT, based in Logan, has acquired 29029, an Atlanta-based event management company that organizes and manages outdoor activities such as hiking and mountain climbing.
Borrowing its name from the altitude of the summit of Mt. Everest, 29029 produces events that challenge participants to hike uphill on ski mountains, returning to the base by gondola after each ascent, until they have reached a cumulative elevation gain of 29,029 feet in 36 hours.
“The acquisition delivers a new dedicated endurance athlete segment to iFIT’s growing community of over 6 million members and marks the company’s entrance into the fast-growing experiential events and "well tourism" business,” iFIT said in announcing the acquisition. Founding partners Marc Hodulich, Jesse Itzler and Colin O’Brady will remain actively engaged in the business with plans to leverage their experiences to leverage iFIT’s equipment and content platform to personalize and enhance their event offerings. Hodulich will continue as CEO.
“29029 is more than an event in the same way that iFIT is more than a workout,” said Scott Watterson, founder and CEO of iFIT. “From the day you sign up for 29029, you become part of a community committed to helping you realize your best self, a philosophy completely in line with the experiences and community we have created within iFIT.”
“We are thrilled to welcome the 29029 team to the iFIT family,” Watterson said. “The acquisition of 29029 will give us the opportunity to quickly scale outdoor fitness adventures to our iFIT community and extend the iFIT brand into a new category. For the 29029 participants, iFIT will provide a specialized training experience with our interactive fitness equipment and elite trainers in preparation for the challenge.”Since its debut in 2017, 29029 has sold out all of its signature events, which are held in Vermont, Utah and Idaho. In 2022, the 29029 events will return to all three states and expand to Colorado, British Columbia and other international destinations.
“This is a breakthrough acquisition in the fitness space. It opens the door for millions of fitness enthusiasts to take their daily exercise routine and marry it with ‘once-in-a-lifetime’ experiences,” said Itzler.