Vista Equity Partners Completes Acquisition of MINDBODY, Inc.
Posted: February 15, 2019 in Suppliers
SAN LUIS OBISPO, CA – MINDBODY, Inc., a leading technology platform for the fitness, beauty and wellness services industries, announces that it has been acquired by Vista Equity Partners (“Vista”), a leading investment firm focused on software, data and technology-enabled businesses. The approximately $1.9 billion transaction, originally announced on December 24, 2018, was approved by MINDBODY’s stockholders on February 14, 2019 and was completed on February 15, 2019.
“Seventeen years ago, we set out on a journey to leverage technology to improve the health and wellness of the world. Today, that technology is helping people lead healthier, happier lives by connecting the world to fitness, beauty and wellness,” said Rick Stollmeyer, Co-Founder and CEO of MINDBODY. “Our partnership with Vista marks a significant milestone on our journey and will allow us to accelerate our growth and serve our customers, consumers and partners better than ever before.”
The acquisition begins the next phase of growth for MINDBODY by combining its product and industry leadership with Vista’s unique investment and operating model for SaaS companies.
With the completion of the acquisition, MINDBODY common stock ceased trading and will no longer be listed on the Nasdaq Stock Market.
Qatalyst Partners acted as the exclusive financial advisor to MINDBODY and Cooley LLP served as legal advisor to MINDBODY. Morgan Stanley acted as the financial advisor to Vista and Kirkland & Ellis LLP served as legal advisor to Vista.