Mindbody buys Booker in $US150m deal

Mindbody will acquire rival, Booker Software, in a deal worth $US150m, said CEO Rick Stollmeyer today (12 March). The agreement is expected to be completed by the end of Q2

The deal will add a roster of around 11,000 locations to the Mindbody portfolio, bringing together Mindbody's clientele of boutique fitness studios and consumer network with Booker’s network of spas and day spas.

“Our intention is to rapidly expand our wellness and beauty platform by delivering more value to customers, consumers and partners alike," said Rick Stollmeyer, Mindbody CEO. “By combining our technology and teams, we will help our customers grow, by connecting them to even larger consumer audiences."

Josh McCarter, CEO of Booker, said: "By joining forces, we can deliver the game-changing technologies and accelerate growth for our customers."

The business was founded in 2006 by SpaFinder CEO, Pete Ellis and MD, Daniel Lizio-Katzen. It initially traded as 'SpaBooker, a division of SpaFinder', before being spun out as GramercyOne in 2010 with McCarter as CEO.

It later rebranded as Booker and was backed by Revolution Ventures and others in a series of deals which funded its growth.

Booker earned around $25 million in subscription and payments revenue in 2017, while its platform processed over $US1.4 billion in payments volume in 2017.