MINDBODY to Acquire Booker Software

Software provider MINDBODY has agreed to acquire Booker Software for about $150 million, the company announced this week.

MINDBODY caters to businesses serving the health, beauty and wellness segments. Booker is a cloud-based business management platform for salons and spas.

“MINDBODY and Booker power the local businesses that help tens of millions of people lead healthier, happier lives,” Rick Stollmeyer, MINDBODY CEO and co-founder, said in a press release.

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

Booker currently serves about 10,000 salons and spas and processed over $1.4 billion in payments volume last year. MINDBODY reported that it processed $7.9 billion in payments volume in 2017. The combined company will serve more than 18,000 salons and spas.

“Booker predominantly serves salons and spas, and MINDBODY predominantly serves fitness studios. By combining these together, we can increase the audience of consumers that are attracted to our marketplace, helping all of the businesses we serve be more successful,” MINDBODY CEO and co-founder Rick Stollmeyer told PaymentFacilitator.com.

In an interview last year, MINDBODY said that it began offering payments as a way to enable online booking for its clients. It now considers payments a fundamental element of its value proposition, according to its Q4 2017 earnings presentation.

“MINDBODY and Booker have long shared a common purpose: delivering a platform that empowers wellness and beauty professionals to run and grow their businesses,” Josh McCarter, Booker CEO, said in the announcement.

“By joining forces, we can deliver the game-changing technologies the wellness industry has been waiting for and accelerate growth for our customers.”

This has been a busy year of acquisition so far for MINDBODY, which announced it was buying FitMetrix in February. FitMetrix offered performance tracking solutions to wellness businesses.