Mindbody, Inc. (NASDAQ: MB), a San Luis Obispo, CA-based technology platform for the wellness services industry, is to acquire Booker Software, a cloud-based business management platform for salons and spas, and the provider of Frederick, an automated marketing software for wellness businesses, for approximately $150m.
The deal is expected to close in Q2 2018.
The acquisition will add approximately 10,000 salons and spas to the Mindbody marketplace.
Led by Rick Stollmeyer, CEO and co-founder, Mindbody provides a technology platform for the wellness services industry. Local wellness entrepreneurs worldwide use its integrated software and payments platform to run, market and build their businesses while consumers use it to find, engage and transact with wellness providers in their local communities.
Founded in 2010 and led by CEO Josh McCarter, Booker provides a technology platform for running salons and spas. Booker and Frederick solutions offer health, wellness, and beauty businesses an all-in-one solution with online booking, CRM, marketing automation, staff management, and POS.
With offices in New York City and Scottsdale, Arizona, Booker serves more than 130,000 professionals at over 11,100 locations and its platform processed over $1.4 billion in payments volume in 2017. It earned approximately $25m in subscription and payments revenue in 2017.