J2 Global Agrees To Buy RetailMeNot For About $420M

Web information and services firm J2 Global, Inc. said on Tuesday (Sept. 29) that it has entered into a deal to buy RetailMeNot from marketing solutions firm Vericast for about $420 million, according to an announcement.

RetailMeNot aims to help consumers save money by offering online and brick-and-mortar coupon codes, a RetailMeNot Deal Finder™ browser extension and cashback deals, according to the announcement.

“We are excited at the prospect of adding RetailMeNot, and [its] 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,” J2 Global CEO Vivek Shah said in the announcement.

The deal is forecasted to close in Q4 2020 and is subject to traditional closing and regulatory acceptances.

“Upon completion of the transaction, J2 Global expects to provide an update on the estimated financial contribution of the acquisition,” J2 said in the announcement.

PCMag, Mashable and IGN are among the names in J2 Global’s portfolio of brands. J2 Global says it reaches more than 230 million individuals monthly across its brands.

In July, RetailMeNot unveiled a four-day event, Rebound with RetailMeNot, showcasing deals from various popular stores. The effort, which was created to support merchants while offering deals to consumers, was to run from July 23 to July 26, with promotions at over 100 brands including Nike and Macy’s. Some brands were to provide cashback as high as 20 percent.

“We want to give people a reason to shop for the things they’ve been holding back on and feel good about staying within budget,” Sara Skirboll, shopping and trends expert at RetailMeNot, said in a statement.

Shoppers anticipated spending an average of $532 on back-to-school items in 2020, which was higher than $507 last year, per a poll from RetailMeNot.

The event’s announcement occurred on the same day that the U.S. Census Bureau noted that the country’s retail sales rose 7.5 percent in June.