SEG Sector Deals provide transaction highlights, relevant insights, and SEG’s perspective on interesting M&A deals within the software industry.
MINDBODY, a leading technology provider of software for the wellness services industry, acquired Booker for $150M (6.0x EV/Rev). Booker is a cloud-based business management platform for salons and spas, and will add approximately 10,000 salons and spas to the MINDBODY platform. This is MINDBODY’s second transaction in 1Q18, after the acquisition of FitMetrix for $15.5M. FitMetrix is a provider of performance tracking solutions for the health and wellness industry. The acquisition will extend MINDBODY’s product offering to provide its customers with advanced performance tracking tools. Furthermore, the acquisition enables FitMetrix to expand its traditionally class-based boutique fitness business into the broader fitness market.
Seller(s) Business Description:
FitMetrix is an engagement-driven technology platform that provides gym members with the ability to schedule classes, train and receive real-time tracking of effort and performance all in one place. HQ: Atlanta, GA See Press Release
Booker Software is a cloud-based business management platform for salons and spas, and the provider of Frederick, a fast-growing, automated marketing software for wellness businesses. HQ: New York, NY See Press Release
Buyer Business Description:
MINDBODY is a leading technology platform for the wellness services industry. HQ: San Louis Obispo, CA