Harland Clarke Holdings Corp. has reached a definitive agreement to purchase RetailMeNot Inc. (Nasdaq: SALE), a discount and savings website for retail and restaurant consumers, for approximately $630 million. The deal allows for Harland Clarke-owned Valassis Communications Inc., a digital analytics and marketing service provider, to utilize RetailMeNot’s digital distribution capabilities.
RetailMeNot is an online marketplace for consumers to receive coupons and sales, discounted gift cards, cash back opportunities, and food and travel offers from both online and in-store retailers and restaurants. The Austin, Texas-based target helps retailers and brands connect with shoppers to drive engagement and sales. RetailMeNot operates with more than 600,000 coupons and offers from nearly 70,000 retailers. The deal is expected to close in the second quarter of 2017.