Harland Clarke, a payment and internet marketing products and services agency, will receive online coupon website RetailMeNot in a offer well worth $630 million in equity. Harland Clarke will pay out $eleven.60 for every share in cash, which is about fifty% larger than the stock’s closing rate of $7.75 on April 7.
A subsidiary of MacAndrews and Forbes Holdings, the financial investment agency owned by Ronald Perelman, Harland Clarke delivers an array of products and services for monetary institutions, like study, internet marketing and systems that regulate paper checks (of course, persons nevertheless use them).
In 2013, Harland Clarke obtained Valassis Communications, a immediate mailer corporation, for $1.31 billion. It ideas to use RetailMeNot to increase the get to of the discount codes and promotions it manages.
In a assertion, Harland Clarke chief govt Victor Nichols reported “RetailMeNot delivers a new world wide digital channel to distribute our clients’ offers that completely complements Valassis’ existing digital, cell, mail and other print networks.”
Harland Clarke’s acquire of RetailMeNot is the latest news in the ongoing consolidation of online specials businesses. This is the next time RetailMeNot has been acquired—in 2010, it was obtained by WhaleShark Media (which rebranded its full corporation to RetailMeNot just after the offer) as part of an acquisition spree that included Deals.com, Deals2Buy, Coupon7 and Cheapstingybargains. Then in 2013, RetailMeNot went public on Nasdaq, increasing $191 million in its original public offering. It will go personal just after its acquisition by Harland Clarke, which is envisioned to close this quarter.
Other online coupon web pages that have been obtained in excess of the final 3 a long time involve Ebates, which was purchased by Rakuten for $1 billion in cash in 2014. Much more recently Groupon obtained LivingSocial, while that offer was much considerably less splashy—the acquisition rate was so minimal that Groupon, which is downsizing its over-all small business, did not have to disclose it.
RetailMeNot was started in 2009 and its traders included Austin Ventures, Google Ventures (now acknowledged as GV), Adams Road Partners, IVP, JP Morgan Investment decision and Norwest Venture Partners.
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