Coupons.com acquires Couponstar
Digital promotions company Coupons.com acquired U.K.-based digital voucher company Couponstar, Coupons.com CEO Steven Boal told Direct Marketing News via email on Oct 11. Couponstar will be rebranded as Coupons.com in the U.K. and Europe.
Coupons.com chose to purchase the remaining 50% of shares owned by private investors to acquire Couponstar because of its “product innovation and its ability to quickly and securely adapt coupon technology to the local UK, European and Australian markets,” said Boal. Boal declined to name the private investors.
Jared Keen, Couponstar's co-founder and managing director will be retained by Coupons.com as managing director of Europe.
No layoffs will come as a result of the transaction, said Boal.
“Coupons.com is following an aggressive growth strategy and will be expanding its full time staff from 288 employees in June to more than 450 expected by the end of the year,” added Boal.
Boal said he expects revenue for Couponstar to reach $100 million in 2011, an improvement on the $60 million the company generated in 2010.
Coupons.com secured $200 million in venture capital from institutional investors in June. The company's client roster includes Clorox, General Mills, Johnson & Johnson and Kellogg's.
The deal was closed in September. Terms of the acquisition were not disclosed.