The companies announced Thursday they have agreed to buy Planet Fitness for $9.5 billion, bringing their combined stock value to $10.1 billion.
Planet Fitness, which also sells fitness products like BodyBuilder and PowerUp, is the only company in the U.S. that offers an app-based fitness program.
The company launched in 2014 and grew rapidly.
It sells products for both men and women.
Planet was founded by former ESPN reporter, James Corden, in 2010.
It has over 3 million subscribers on its platform and has more than 300 million users worldwide.
The purchase comes as other big-name fitness companies like Target and Apple are also looking to expand into fitness and health, according to Axios.
The purchase includes Planet Fitness as well as its parent company, The Fitness Institute, which has about 3 million customers worldwide.
Corden and Planet co-founder, Steve Huffman, founded the fitness-focused site Planet Fitness and now owns it, along with his wife, Kathie.
Planet Fitness is a platform for women to connect with other women who are also trying to gain strength and muscle.
The company’s stock has soared over the past year due to its success in expanding its fitness programs.
In February, the company sold off its Fitness Insider, a popular online program, to Target.
In January, the stock soared to $4.60, after a Facebook post by Huffman stated he was “proud to be part of a company that brings women together for health and wellness.”
The Huffington Post said in a statement that the deal “provides Planet Fitness with a more complete portfolio of fitness products and the opportunity to expand its portfolio with additional brands and services.”
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