Mindbody buys ClassPass
Mindbody has announced it's buying ClassPass, the consumer wellness subscription service that enables people to use a range of gyms, studios and wellness facilities for one monthly subscription.
The deal will bring two of the industry’s most prominent tech businesses together to offer both business- and consumer-facing services. They're also expected to jointly fast-track the development of their corporate wellness business.
"By leveraging the best of both companies’ technology and expertise, we'll provide studios with tools to help them grow and thrive, while also driving more consumers to their businesses,” said Josh McCarter, CEO of Mindbody. “Our companies share a singular focus on democratising wellness by bringing these experiences to more people, in more places."
The acquisition will be an all-stock deal and will integrate the two teams, with ClassPass continuing to operate its app and website and Mindbody continuing to operate its app to drive 'discovery'. ClassPass will become a brand within the Mindbody portfolio.
Following the completion of the deal, Fritz Lanman, CEO of ClassPass, will move to the role of president of ClassPass and Mindbody Marketplace and will work alongside McCarter.Read More