Competitor Group Inc (CGI), the leading media and event resource in the active lifestyle industry, has confirmed its acquisition of USRaceworks LLC, the parent company of Raceit.com, a rapidly expanding online registration solutions provider, reportedly the number two event registration platform in the endurance sports industry.
More than 3,000 events have used Raceit.com for online registration over the last 12 months, including Bike New York, J&A Racing, Sports Backers, the Tough Mudder Series and the Monument 10K. The acquisition of the fastest growing entity in endurance event registrations now lays the foundation for CGI’s entry into the race services business.
By combining its industry leading media assets and the company’s buying leverage in the must-need areas of bibs, medals, swag bags and tech tees, CGI intends to bring to bear the full weight of its scale to the benefit of race organizers and event directors throughout North America. CGI’s long-time partnership with Active.com will continue outside of North America with a particular focus on European event registrations as the Rock ‘n’ Roll Marathon Series, which continues to expand internationally.
“We are thrilled to announce the acquisition of Raceit, one of the most innovative event registration platforms in the industry,” said Peter Englehart, CGI’s Chief Executive Officer. “With Raceit.com, we will improve our registration process and data management for the more than 600,000 participants that will participate in Competitor Group events next year.
“We now have a leading registration platform to match with our race services product offering and market leading media assets, creating significant cost savings and benefits to independent race organizers throughout the industry.”
Launched as EventHub in January, the re-branded Raceit Race Services business leverages the collective scale of the Rock ‘n’ Roll Marathon Series, TriRock Triathlon Series and Columbia Muddy Buddy Series ‘to pass on the lowest prices in the industry for essential race products such as tech shirts, race bibs, race medals and participant swag bags for events of all sizes.’
“Nobody knows the daily challenges each and every race director faces more than those of us at Competitor Group,” said Scott Dickey, CGI’s President. “The decision to invest in a new registration platform was rooted not only in support of our own events, but to support the entire industry as we collectively work to increase participation and growth in endurance sports.
“Raceit is solely focused on the needs of race directors in the endurance market, not the broader business of mass participation events. This concentration and focus will lead to continued superior technology features and true customer service for our entire industry.”
The addition of the Raceit technology platform will deliver an enhanced suite of performance marketing tools, streamlined registration capabilities, web hosting and design as well as state of the art race results technology for race directors and their participants.
“Our core philosophies have been the driving success behind Raceit: develop a great product, support and enhance it each and every day, and be there when your clients need you,” said Eric Cone, President of Raceit, who has assumed the role of Senior Vice President of Technology at CGI.
“Placing the needs of the Race Director as our top priority has been our catalyst for growth,” he added. “Joining forces with CGI now provides a platform for tremendous growth and the opportunity to fully realize our potential. CGI has the technological, media, marketing and financial capacity to improve the established registration service Raceit currently provides.”
Launched in 2004 in Richmond, Virginia, Raceit is comprised of a team of dedicated staffers all working in concert to provide the best registration solutions possible. Today, Raceit boasts ‘one of the most stable and successful systems in the registration industry, capitalizing on a strategic release of features and enhancements that have been positively received in the marketplace.’
Over 620,000 participants in more than 2,300 events in the first seven months of 2011 have utilized registration solutions powered by the Raceit platform.