M&A Deal Summary

LifeSpeak Acquires Wellbeats

On February 14, 2022, LifeSpeak acquired internet software and services company Wellbeats for 93M USD

Acquisition Highlights
  • This is LifeSpeak’s 3rd transaction in the Internet Software and Services sector.
  • This is LifeSpeak’s largest (disclosed) transaction.
  • This is LifeSpeak’s 2nd transaction in the United States.
  • This is LifeSpeak’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-02-14
Target Wellbeats
Sector Internet Software and Services
Buyer(s) LifeSpeak
Deal Type Add-on Acquisition
Deal Value 93M USD
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)
Lathrop & Gage LLP (Legal)

Target

Wellbeats

St Louis Park, Minnesota, United States
Wellbeats is a provider of on-demand, virtual wellness content, and programming for use in corporate wellbeing initiatives. With more than 1,000 fitness, nutrition, and mindfulness classes and programs available anytime and anywhere, Wellbeats allows employers to support employees with wellness resources that fit their needs, lifestyle, and schedule. Wellbeats provides best-in-class content that appeals to people of all ages, interests, and ability levels. Wellbeats content is easily accessible through apps for iOS, Android, Windows, and Apple T.V.; any modern Web browser, Chromecast, Airplay, and Roku. Wellbeats was founded in 2008 and is based in St Louis Park, Minnesota.

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Buyer(S) 1

Buyer

LifeSpeak

Toronto, Ontario, Canada
Category Company
Founded 2004
Sector Internet Software and Services
Employees38
Revenue 52M CAD (2023)
DESCRIPTION

LifeSpeak is a software-as-a-service provider of a platform for mental health and total wellbeing education for organizations committed to taking care of their employees and customers. LifeSpeak was founded in 2004 and is based in Toronto, Ontario.

DEAL STATS #
Overall 3 of 3
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 Torchlight

Burlington, Massachusetts, United States

Torchlight digital-first caregiver support platform for employers, health plans, and other member organizations. Torchlight empowers organizations with the tools and one-to-one expertise to help more than 53 million caregivers across the U.S. Unlike traditional call centers and coaching models, Torchlight eliminates the ‘middleman’ by providing caregivers with direct access to top specialists and expertise in a scalable, cost-effective way. Torchlight is based in Burlington, Massachusetts.

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Product

Company

Legal