San Luis Obispo-based MINDBODY announced this week that it is being acquired by investment firm Vista Equity Partners, but what does that mean for employees of the tech company?
A message sent to employees on Monday attempts to answer some common questions about the acquisition.
That message was included in MINDBODY’s filing with the Securities and Exchange Commission on Wednesday.
In the letter, CEO Rick Stollmeyer says, “Together, we have built a company, products, services and mission that is unrivaled. With Vista, I’m confident we’ll build upon our successes and accelerate on our path toward helping people everywhere lead healthier, happier lives.”
MINDBODY provides tech products to customers in the health and wellness industry.
As for its products, the message to employees says it will be “business as usual.”
It says there are no planned management changes, they “expect MINDBODY headquarters will remain in SLO,” and “there are no layoffs planned.”
The sale to Vista Equity Partners is expected to be completed in the first quarter of 2019.
