Consumer Data Providers Quotient and Neptune to Merge

In the US, retail marketing company Neptune Retail Solutions is to acquire and merge with digital promotions and media tech firm Quotient. The transaction has an aggregate equity value of approximately $430m.

The Quotient platform combines consumer spending data, location intelligence and purchase intent data to reach millions of shoppers daily and deliver measurable incremental sales. Neptune's platform includes deterministic first party shopper data, generated from the company's owned and operated cashback app Checkout 51, which captures first party shopping data through receipt scans from retail locations across the US and Canada.

The deal makes Neptune's majority investor Charlesbank Capital Partners the majority investor of the combined company, and under the terms of the agreement Quotient's shareholders will receive $4.00 per share in cash. Neptune's CEO William 'Bill' Redmond (pictured) will become CEO of the combined business.

Quotient CEO Matt Krepsik says the acquisition enables the creation of more scale as a combined company. Redmond adds: 'We plan to seamlessly integrate Quotient's team, product suite and retail partners with Neptune's omnichannel network. The combination further advances our proven commitment to retailers and advertisers to drive profitable, incremental and measurable growth, while deepening relationships with and value for consumers'.

Web sites: www.quotient.com and www.neptuneretailsolutions.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.