Neptune Retail to buy Coupons.com-parent for $430 mln

Quotient Technology

20/06/2023 16:48

June 20 (Reuters) - Retail marketing firm Neptune Retail
Solutions will acquire Coupons.com-parent Quotient Technology
 QUOT.N  for $430 million in cash, the companies said on
Tuesday.
    Quotient's shares jumped about 17% in the early session and
were trading 9 cents shy of the $4 offer price.
    The company had been exploring options that included a sale,
Reuters reported in March, as its clients slashed advertising
spending amid fears of an economic slowdown.
    Founded in 1998, Quotient operates Coupons.com and other
digital marketing platforms that offer promotions to consumers,
mostly in the U.S. packaged food and grocery segments. 
    Its clients include some of the world's biggest consumer
companies such as Kellogg's  K.N  and Coca-Cola  KO.N .
    Private investment firm Charlesbank Capital Partners, which
is a major shareholder of Neptune, will be the majority investor
in the combined company.
    Neptune CEO William Redmond will lead the merged entity.
    The transaction is expected to close in the second half of
2023, and Quotient will go private upon completion of the
transaction.
    Houlihan Lokey is serving as a financial adviser to
Quotient, while PJT Partners is advising Neptune.
    

 (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by
Anil D'Silva)
 ((Samrhitha.A@thomsonreuters.com))