MINDBODY Acquires Booker Software
MINDBODY, Inc., a leading technology platform for the wellness services industry, announced today 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.”
“MINDBODY and Booker have long shared a common purpose—delivering a platform that empowers wellness and beauty professionals to run and grow their businesses,” said Josh McCarter, Booker CEO. “By joining forces, we can deliver the game-changing technologies the wellness industry has been waiting for, and accelerate growth for our customers.”
Booker was founded in 2010 to serve the beauty industry and earned approximately $25 million in subscription and payments revenue in 2017. Today, Booker serves approximately 10,000 high-end salons and spas, and its platform processed more than $1.4 billion in payments volume in 2017.