Latest News

Back to Latest News back

 

Mindbody accepts US$1.9 billion private equity firm buyout

Mindbody accepts US$1.9 billion private equity firm buyout
December 24, 2018

Cloud-based fitness management software provider Mindbody Inc has advised that it is to be acquired by US-based private equity firm Vista Equity Partners in a massive deal valued at about US$1.9 billion.

Announcing the acquisition, said Mindbody co-founder and Chief Executive Rick Stollmeyer advised “we are thrilled to provide immediate liquidity to our shareholders at a significant premium to market prices and to leverage Vista’s resources and deep expertise to accelerate our growth while achieving that purpose more effectively than ever before.”

Mindbody shareholders will receive US$36.50 ($51.50) per share in cash, representing a premium of over about 60% on the company’s closing price as of Friday last week.

Explaining the acquisition, Brian Sheth, co-founder and President of Vista stated “Mindbody’s position as the leading technology platform for the fitness, beauty and wellness industries makes it an ideal addition to the Vista family of companies.

“We look forward to partnering with Rick and the entire Mindbody team to deliver innovation to customers that will help grow their businesses and to consumers who depend on Mindbody to strengthen their health and well-being."

Mindbody’s Board of Directors unanimously approved the deal and recommended that stockholders vote their shares in favour of the transaction.

Since it went public in June 2015, Mindbody’s software-as-a-service (SaaS) for fitness boutiques, spas and beauty salons has generated a steady rise in revenue. In the last financial year, it reported revenue of US$182.5 million ($259.40 million) while in the latest quarter sales it has reported of US$65.71 million .

The deal is expected to close by the end of March 2019.

Related Articles

13th October 2018 - MindBody-owned FitMetrix revealed to have exposed millions of user records

4th June 2018 - Mindbody reduces losses, looks to post acquisition growth

1st June 2018 - ClassPass announces plans for aggressive global expansion

30th March 2017 - MINDBODY adds Lymber dynamic pricing engine to its product platform

14th February 2017 - MINDBODY wins 2017 BIG Innovation Award for branded app solution

14th November 2016 - Mindbody named official business software sponsor by the IDEA Health & Fitness Association

29th September 2016 - Quadrant expands wellness empire with acquisition of Fitness First Australia

14th September 2016 - MOBIPOST enables SMS marketing for MINDBODY

30th April 2016 - Mindbody App wins 2016 Webby Award and Webby People’s Voice Award


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

DAE Global

DAE Global is one of the world’s leading international creative and production practitioners, creating award-winning sport, culture and entertainment experiences for over 30 years.  It was…

read more

Culture / Entertainment / Events / Venues

 
 

TJS Services

TJS Services is a leading national facility services provider. We deliver quality cleaning, maintenance, construction and facility management services to over 1,500 sites Australia wide.  Our…

read more

Hospitality / Retail / Venues

 
 

Links Modular Solutions

Links Modular Solutions was a leading provider of high-quality, innovative software solutions for aquatic and recreation facilities. Links Modular Solutions is now part of Xplor Technologies.

read more

Access / Billing / Finance / Fitness / Technology

 
 

Altitude Training Systems

ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help all athletes gain the competitive edge. Our…

read more

Fitness / Sport / Technology

 
 

Debitsuccess

Debitsuccess is now part of Xplor Technologies.

read more

Billing / Finance / Fitness / Golf / Recreation

 
 

AMPD Academy

Originally founded to meet the specific training requirements of its own venue management operations, Ampd Academy now embraces a broader mission to combat skill shortages across Australian…

read more

Aquatics / Attractions / Education / Recreation / Safety

 
 

The Pool Enclosure Company

Now TPEC Pool Enclosures - see www.ausleisure.com.au/suppliers/tpec-pool-enclosures

read more

Aquatics / Design / Recreation / Venues

 
 

The Jump Pad

The Jump Pad is a safe, flat inflatable made in a variety of sizes which can be used indoor or outdoor. From 3mx3m up to a whopping 9mx21m. Markets include Indoor and outdoor playgrounds, schools,…

read more

Attractions / Entertainment / Play

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business