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Vista Equity Partners to acquire MINDBODY in all-cash deal for $1.9B

Private equity and venture capital firm Vista Equity Partners LLC agreed to acquire MINDBODY Inc. — a technology platform for the fitness, beauty and wellness services industries — for about $1.9 billion in cash.

Under the terms of the deal announced Dec. 24, Vista Equity will acquire all outstanding common shares of MINDBODY for $36.50 apiece, representing a 68% premium to the company's unaffected closing price as of Dec. 21.

The deal comes with a 30-day go-shop period for MINDBODY board and financial advisers to consider any alternative acquisition proposals.

The deal's completion, which is subject to approval by MINDBODY stockholders and antitrust approval in the U.S., is expected to occur in the first quarter of 2019 and is not subject to a financing condition.

Qatalyst Partners is the exclusive financial adviser to MINDBODY, with Cooley LLP serving as the company's legal adviser. Vista Equity's legal adviser is Kirkland & Ellis LLP.