Headspace Merges With Ginger

Los Angeles-based mindfulness app developer Headspace is merging with mental health app developer Ginger, in a deal that reportedly values the combined company at around $3 billion. Financial terms of the merger were not announced. Ginger is backed by Blackstone Group. The new company will be led by Ginger CEO Russell Glass, with current Headspace CEO CeCe Morken shifting to become President of the combined company. Headspace has previously raised funding from blisce, Waverly Capital, Times Bridge, The Chernin Group, Spectrum Equity and Advancit Capital.