Tuesday, April 11, 2017

RetailMeNot Acquired By Harland Clarke For $630M

Austin-based RetailMeNot, the online coupon and deals site run by Cotter Cunningham, has been acquired by marketing service provider Harland Clarke, in a deal worth $630M. According to the two, Harland Clarke will pay $11.60 per share in cash for RetailMeNot, which the two said is a premium of approximately 50% over the closing share price of RetailMeNot's common stock as of April 7. RetailMeNot will be combined with Valassis, Harland Clarke's coupon printing and marketing arm. Harland Clarke said it will make RetailMeNot the "consumer savings destination of choice" by leveraging the offers from Valassis. Valassis is best known as one of the largest printers of the coupons you find in your Sunday paper.