The acquisitions just keep rolling in for Mindbody.
The health and wellness software company announced Monday that it is in the final stages of acquiring New York City-based Booker Software.
The company will purchase Booker for approximately $150 million in cash and the assumption of unvested stock option awards, according to a news release. The deal is expected to close in the second quarter of the year.
“Mindbody and Booker power the local businesses that help tens of millions of people lead healthier, happier lives,” Mindbody CEO and cofounder Rick Stollmeyer said in a news release. “By combining our technology and teams, we will help our customers grow by connecting them to even larger consumer audiences. Our intention is to rapidly expand our wellness and beauty platform by delivering more value to customers, consumers and partners alike.”
Booker Software is a cloud-based business management platform for salons and spas, and the provider of Frederick, an automated marketing software for wellness businesses, according to a news release. The company has 180 employees, and in 2017, it made approximately $25 million in subscription and payments revenue.
The acquisition will add approximately 10,000 salons and spas to the Mindbody marketplace.
With the new acquisition, Mindbody will employ around 1,580 people around the world. The company reported $182 million in total revenue last year.