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- Mindbody Inc., the health and wellness software-application provider, said Vista Equity Partners will buy the company for $1.9 billion. Shareholders will receive $36.50 per share, a 68% premium over Mindbody’s Dec. 21 closing price of $21.72. Mindbody became an independent sales organization in 2010 to be able to sell its clients payment-processing services along with its software. The transaction is expected to close in the first quarter and has no financing conditions.
- A federal judge in San Francisco granted a motion by PayPal Holdings Inc. to dismiss a shareholder lawsuit alleging PayPal made false and misleading statements regarding a data breach at TIO Networks, a bill-pay firm PayPal acquired in July 2017 for $238 million, The National Law Review reported. The breach may have affected 1.6 million customers. Citing security concerns, PayPal suspended TIO’s operations that November.
- Institutional investor Paloma Partners Management Co. sold three-quarters of its stake in Global Payments Inc. during the third quarter, reducing its holding to 4,195 shares, according to a filing with the Securities and Exchange Commission. The stock currently has an average analyst rating of “buy.”
- Ant Financial Services Group, parent of China’s Alipay mobile-payments service, is in talks to buy WorldFirst, a United Kingdom-based currency-exchange startup, according to a report by Reuters.
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