- Mindbody, a software program firm that gives know-how platforms for health and wellness studios, is being acquired by a private-equity agency and going non-public after three years as a public firm, it introduced Monday.
- Vista Fairness Companions will purchase the entire firm’s inventory for $1.9 billion.
- Mindbody was just lately valued by the general public markets at $1.eight billion.
A software program firm that is doubtless accountable for all your yoga and pilates bookings is being acquired for $1.9 billion.
Mindbody, which supplies know-how for firms within the health and wellness industries, introduced on Monday that it’s going non-public after three years as a public firm. Vista Fairness Companions, a private-equity agency that makes a speciality of software program and tech firms, is buying all of Mindbody’s inventory for $1.9 billion.
“MindBody’s objective is to assist folks lead more healthy, happier lives by connecting the world to health, magnificence and wellness,” Rick Stollmeyer, cofounder and CEO of the corporate, stated in a press assertion on Monday.
He continued: “We’re thrilled to supply quick liquidity to our shareholders at a big premium to market costs and to leverage Vista’s assets and deep experience to speed up our development whereas reaching that objective extra successfully than ever earlier than.”
Learn extra: A former Navy officer constructed this $1.eight billion firm to assist e-book hair and yoga appointments — and Wall Road thinks it’s about to get massive.
Mindbody shareholders will obtain $36.50 in money per share, which works out as a 68% premium on its closing value recorded on December 21, based on the press launch.
Mindbody was launched in 2001 by Stollmeyer and his former highschool finest buddy Blake Beltram. The corporate was just lately valued by the general public markets at $1.eight billion.
The deal is anticipated to shut by the top of the primary quarter of 2019.
SEE ALSO: ClassPass is tweaking its subscription system and a few subscribers aren’t glad
Be a part of the dialog about this story »
NOW WATCH: A wheel of parmesan can price over $1,000 — here is why the cheese is so costly