Withers KhattarWong LLP, the Singapore office of international law firm Withers, acted for fitness training app Sufferfest in its acquisition by Wahoo Fitness, a US-based leader in connected fitness devices. The transaction was completed on 15 July 2019.
The acquisition involved the sale of Singapore-headquartered Sufferfest's business and assets, which primarily comprise customer contracts and app software-related intellectual property. Upon completion, Sufferfest will continue to operate as an independent product, with no planned changes in its business offering or structure as a result of the acquisition.
Led by Corporate partner Leong Chuo Ming, the Withers KhattarWong team comprises Intellectual Property partner Gretchen Su, and associate Lanabel Teo. Given the cross-border nature of the deal, they were supported by a team from Withers' New York office, which advised on the US aspects. The team included Corporate partner David Guin, consultant Garrett Dowd, and associates Ari Byk and Flora Tsui.
Lead partner Leong Chuo Ming comments, "We are delighted to have acted for Sufferfest and David on this landmark deal. Together with Wahoo Fitness, they will undoubtedly create innovative training solutions that will benefit not just endurance athletes, but the growth of indoor training and fitness sectors as well."
The deal underscores Withers KhattarWong's Corporate practice capabilities and its ability to advise on cross-border deals involving sports and technology. Just last year, Withers KhattarWong under Chuo Ming's lead also advised Grab on a pilot project, GrabCycle. Read more about it here.
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