Marketing firm Harland Clarke Holdings Corp. plans to acquire digital coupon provider RetailMeNot Inc. for $630 million. The deal is expected to close in the second quarter.
Harland Clarke Holdings, which is the parent company of media delivery and coupon distributor firm Valassis, purchased RetailMeNot’s outstanding shares for $11.60 each in cash. The transaction will make RetailMeNot a privately held company. Harland Clarke acquired Valassis in 2014 for $1.84 billion.
Together, Harland Clarke and RetailMeNot will have a global media network of tens of thousands of advertisers reaching hundreds of millions of consumers.
“RetailMeNot provides a new global digital channel to distribute our clients’ offers that perfectly complements Valassis’ current digital, mobile, mail and other print networks,” says Victor Nichols, CEO of Harland Clarke Holdings. “RetailMeNot’s capabilities span multiple platforms and channels including web, mobile and app, delivering online coupons and sales, discounted gift cards, and cash-back offers, along with food, dining and travel offers. The addition of RetailMeNot brings Valassis’ clients a new, vast and active consumer base explicitly seeking deals, offers and savings.”
RetailMeNot works with many Internet Retailer Top 1000 retailers, including Kohl’s Corp. (No. 19), Crate and Barrel (No. 71) and Ulta Beauty (No. 153). In addition to retailers, RetailMeNot also provides digital coupons for restaurants and brands.
In 2016, RetailMeNot received 650 million visits to its website, according to the digital coupon provider. RetailMeNot’s app also is popular with consumers, and was the seventh-most downloaded shopping app on Apple Inc.’s app store on Black Friday 2016, according to mobile app analytics provider App Annie.
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