Robert F. Smith and his Vista Equity Partners completes acquisition of MINDBODY, Inc.

(Press Release) – MINDBODY, Inc., the leading technology platform for the fitness, beauty and wellness services industries, late last week announced that it has been acquired by Vista Equity Partners, a leading investment firm focused on software, data and technology-enabled businesses. The approximately US$1.9 billion transaction, originally announced on December 24, 2018, was approved by MINDBODY’s stockholders on February 14, 2019 and completed on February 15, 2019.

“Seventeen years ago, we set out on a journey to leverage technology to improve the health and wellness of the world. Today, that technology is helping people lead healthier, happier lives by connecting the world to fitness, beauty and wellness,” said Rick Stollmeyer, Co-Founder and CEO of MINDBODY. “Our partnership with Vista Equity Partners (Vista) marks a significant milestone on our journey and will allow us to accelerate our growth and serve our customers, consumers and partners better than ever before.”

The acquisition begins the next phase of growth for MINDBODY by combining its product and industry leadership with Vista’s unique investment and operating model for software as a service (SaaS) companies.

With the completion of the acquisition, MINDBODY common stock ceased trading and will no longer be listed on the Nasdaq Stock Market.

Qatalyst Partners acted as the exclusive financial advisor to MINDBODY and Cooley LLP served as legal advisor to MINDBODY. Morgan Stanley acted as the financial advisor to Vista and Kirkland & Ellis LLP served as legal advisor to Vista.

About MINDBODY: MINDBODY, Inc. is the leading technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and grow their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. For more information on how MINDBODY is helping people lead healthier, happier lives by connecting the world to fitness, beauty and wellness, for more information visit mindbodyonline.com.

About Vista Equity Partners: Vista Equity Partners – Founded by Robert F. Smith in 2000 – is a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than US$30 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective.

Vista Equity Partners is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. The firm’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing.. For more information, please visit www.vistaequitypartners.com.

Source: MINDBODY, Inc.