J2 Global Announces Agreement to Acquire RetailMeNot
J2 Global (NASDAQ: JCOM) announced its acquisition of RetailMeNot for approximately $420 million from Vericast. This acquisition aims to enhance J2 Global's portfolio, focusing on consumer savings and marketing solutions for brands. The deal is subject to customary closing conditions and is expected to finalize in Q4 2020. CEO Vivek Shah expressed enthusiasm about integrating RetailMeNot's services into J2's offerings, which serve over 230 million users monthly.
- Acquisition of RetailMeNot expected to enhance J2 Global's portfolio in the consumer savings sector.
- Transaction value of approximately $420 million aligns with strategic expansion goals.
- RetailMeNot's established brand and customer base may drive revenue growth.
- The acquisition could pose integration challenges within J2 Global's existing operations.
LOS ANGELES--(BUSINESS WIRE)--J2 Global, Inc. (NASDAQ: JCOM), a leading Internet information and services company, today announced that it has entered into a purchase agreement to acquire leading savings destination RetailMeNot for approximately
The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in the Fourth Quarter 2020. Upon completion of the transaction, J2 Global expects to provide an update on the estimated financial contribution of the acquisition.
“We are excited at the prospect of adding RetailMeNot, and their talented employees, to our portfolio of brands dedicated to helping consumers save money and find deals, while delivering performance marketing solutions to retailers and brands,” said Vivek Shah, CEO of J2 Global.
About J2 Global
J2 Global, Inc. (NASDAQ: JCOM) is a leading Internet information and services company consisting of a portfolio of brands including IGN, Mashable, Humble Bundle, Speedtest, PCMag, Offers.com, Spiceworks, Everyday Health, BabyCenter and What To Expect in its Digital Media segment and eFax, eVoice, iContact, Campaigner, Vipre, IPVanish and KeepItSafe in its Cloud Services segment. J2 Global reaches over 230 million people per month across its brands. As of December 31, 2019, J2 Global had achieved 24 consecutive fiscal years of revenue growth. For more information, visit: www.j2global.com.
About Vericast
Vericast is a premier marketing solutions company that accelerates profitable revenue growth for the 70,000 businesses it serves directly by influencing consumer purchasing and transaction behavior at scale while engaging with over 120 million households daily.
About RetailMeNot
RetailMeNot is a leading savings destination bringing people and the things they love together through savings with retailers, brands, restaurants and pharmacies. RetailMeNot makes everyday life more affordable through online and in-store coupon codes, cash back offers, and the RetailMeNot Deal Finder™ browser extension.
