Groupon has acquired a United Kingdom software company that owns two popular European e-commerce brands.
Chicago-based Groupon announced Tuesday that it has acquired Cloud Savings Company, Ltd. for $65 million. Cloud Savings Company is the parent company of Vouchercloud, a discount code app, and Giftcloud, a digital gift card app and loyalty program.
Vouchercloud is in 11 countries, mostly in the UK, and has been downloaded more than 10 million times. Launched in 2010, the company works with over 12,000 retailers to deliver digital discount codes to entice customers.
Giftcloud, founded in 2014, was Europe’s first digital gift card app and website. It allows users to easily purchase online gift cards from brands like Amazon, Nike and Starbucks, and provides brands with a digital rewards and loyalty program to keep customers coming back.
“We’re pleased to add two great, profitable brands and very talented teams to the Groupon family,” Groupon CEO Rich Williams said in a statement. “In Vouchercloud, we’re acquiring one of the most innovative brands in the online discount codes space, which we believe will accelerate our own efforts -- particularly in International -- and broaden our marketplace for consumers. In Giftcloud, we see interesting long-term potential in creating attractive customer loyalty programs with some of the biggest names in retail, as well as with great local merchants.”
Groupon said it plans to keep the company's UK headquarters, where it employs around 100 people.
