MINDBODY Completes Acquisition of Booker Software
April 02 2018 - 5:06PM
MINDBODY, Inc. (NASDAQ:MB), the leading technology platform
for the wellness services industry, today announced that it has
completed the acquisition of Booker Software, a leading
cloud-based business management platform for salons and spas, and
the provider of Frederick, a fast-growing, automated marketing
software for wellness businesses.
Originally announced on March 12, 2018, MINDBODY acquired Booker
Software for approximately $150 million and the assumption of
unvested option awards.
The acquisition of Booker adds approximately
10,000 salons and spas to the MINDBODY marketplace, combining
MINDBODY’s leadership in boutique fitness studios and its vast
consumer network with Booker’s leadership in high-value salons and
spas.
“We are pleased to complete the acquisition of
Booker and excited to welcome the Booker team to the MINDBODY
family,” said Rick Stollmeyer, MINDBODY CEO and co-founder. “By
joining forces, MINDBODY and Booker will be able to expand the
capabilities of our products to deliver more value to our
customers, engage with more consumers in our marketplace and expand
our leadership in wellness and beauty.”
About MINDBODYMINDBODY, Inc.
(NASDAQ:MB) is the leading technology platform for the wellness
services industry. Local wellness entrepreneurs worldwide use
MINDBODY’s integrated software and payments platform to run, market
and build their businesses. Consumers use MINDBODY to more easily
find, engage and transact with wellness providers in their local
communities. For more information on how MINDBODY is helping people
lead healthier, happier lives by connecting the world to wellness,
visit mindbodyonline.com.
Forward-Looking Statements
This press release contains forward-looking
statements about the expectations, beliefs, plans, intentions and
strategies of MINDBODY relating to MINDBODY’s acquisition of
Booker. Such forward-looking statements include statements
regarding expected benefits to MINDBODY, Booker and their
respective customers, including expanded product capabilities, and
an expected increase in the number of salons and spas that will be
part of the MINDBODY marketplace. These statements reflect the
current beliefs of MINDBODY and are based on current information
available to us as of the date hereof, and we do not assume any
obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made. The ability of MINDBODY to achieve
these business objectives involves many risks and uncertainties
that could cause actual outcomes and results to differ materially
and adversely from those expressed in any forward-looking
statements. These risks and uncertainties include the failure to
achieve expected synergies and efficiencies of operations between
MINDBODY and Booker; the ability of MINDBODY and Booker to
successfully integrate their respective technologies, products,
personnel and operations; the ability of MINDBODY to pursue new
market opportunities; the failure to timely develop and achieve
market acceptance of combined products and services; the potential
impact on the business of Booker as a result of the acquisition;
the loss of any MINDBODY or Booker customers; the ability to
coordinate strategy and resources between MINDBODY and Booker; the
ability of MINDBODY and Booker to retain and motivate key employees
of Booker; general economic conditions; as well as those risks and
uncertainties included under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” in our Form 10-K filed with the Securities
and Exchange Commission on March 1, 2018 for the year ended
December 31, 2017, which is available on the Investor Relations
section of our website
at investors.mindbodyonline.com and on the SEC website at
www.sec.gov.
© 2018 MINDBODY, Inc. All rights reserved.
MINDBODY, the Enso logo and Connecting the World to Wellness are
trademarks or registered trademarks of MINDBODY, Inc. in the United
States and/or other countries. Other company and product names may
be trademarks of the respective companies with which they are
associated.
Contacts:Investor
Relations:Nicole
Gunderson888-782-7155IR@mindbodyonline.com
Media:Tracy
Richmond805-586-3226
tracy.richmond@mindbodyonline.com
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