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Lifespeak Completes Acquisition Of U.S.-Based Wellbeats, Solidifying Its Lead Position In The Saas Mental Health And Total Wellbeing Market

Mar 01, 2022•over 3 years ago

Acquiring Company

LifeSpeak Inc.

Acquired Company

Wellbeats

TorontoSoftwareFood And BeverageMobileSoftware

Description

LifeSpeak Inc. ("LifeSpeak" or the "Company") (TSX: LSPK), the leading mental health and total wellbeing platform for employers, health plans, and insurance companies, today announced that it has completed its previously disclosed acquisition of Minnesota-based Wellbeats Inc. ("Wellbeats"), a market-leading provider of an on-demand, software-as-a-service ("SaaS") physical wellbeing platform.

Company Information

Company

LifeSpeak Inc.

Location

49 WELLINGTON STREET EAST

Toronto, Ontario, Canada

About

LifeSpeak is a leading 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. With 17+ years of experience creating and curating thousands of expert-led micro-learning videos and other digital content, LifeSpeak's proprietary library's depth and breadth of easily consumable content helps companies around the world support their people anytime and anywhere. LifeSpeak serves a diverse global client base across many industries and sectors, including Fortune 500 companies, government agencies, insurance providers, and other health technology firms. LifeSpeak is the parent company of Lift Digital Inc. ("LIFT" or "LIFT session"), ALAViDA Health Ltd. ("ALAViDA"), EnCompass Education Solutions ("Torchlight") and Wellbeats Inc. (‘Wellbeats). To learn more, follow LifeSpeak on LinkedIn (http://www.linkedin.com/company/lifespeak-inc), or visit www.LifeSpeak.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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