Company acquires U.K.-based Elevaate, bringing strategic revenue-driving
platform for search and sponsored product media to ecommerce sites
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Quotient Technology (NYSE: QUOT) today announced it has acquired
U.K.-based Elevaate, which has an in-market technology platform that
drives ecommerce sales through sponsored search and product ads on
retailers’ ecommerce properties and elsewhere on the web. The
acquisition enables Quotient to help its retailer partners boost
ecommerce media and sales at a time when shoppers are initiating more of
their trips directly on retailer websites.
“This is a great enhancement to our media solutions for retailer
partners and our consumer packaged goods (CPG) clients,” said Mir Aamir,
President and CEO of Quotient. “Brands are eager to get prominent
placements on the digital shelf, and shoppers have come to expect and
engage with featured products and sponsored results when they search for
a product. Quotient is already the exclusive digital media partner for
retailers that represent combined annual grocery sales of about $150
billion, and this ecommerce media capability is a great addition to our
retail performance media platform.”
As product search increasingly shifts away from core search engines
towards retailer sites, brands are looking for effective ways to market
their products within this new paradigm. This new capability in
Quotient’s media solutions enables CPG brands to shift their search
budgets to a higher performing medium directly tied to product sales.
Additionally, grocery retailers, which are investing heavily to grow
their ecommerce businesses, can benefit greatly from integrated media
capabilities related to search results and sponsored products.
“Search and sponsored product media is a natural and critical addition
to our Albertsons Performance Media (APM) platform powered by Quotient
Technology,” said Narayan Iyengar, Senior Vice President, Digital and
eCommerce, for Albertsons Companies. “With ecommerce a significant
strategic focus for Albertsons, the addition of this capability by
Quotient will enable us to offer brands another great way to drive
online sales.”
Elevaate’s technology platform matches brand product ads with relevant
contextual placements mapped throughout the ecommerce purchase
process. Proprietary algorithms, flexible bidding models, and rich
analytics allow brands to optimize their programs to drive sales
performance.
Quotient’s media platform already offers performance media solutions for
brands, reaching a shopper audience of over a 100 million, based on
shopper transaction data that is used for targeting and measurement. As
the exclusive digital media partner for several of its Retailer
iQ partners, Quotient manages all CPG digital media, including
creative, ad delivery on retailer properties and across the web and
social, as well as media analytics.
Elevaate’s technology will be fully integrated into Quotient’s media
platform to take advantage of the same shopper data, ad tech, and
analytics that fuel all of its data-driven media solutions.
Elevaate, which was founded in 2014, works with major U.K. retailers and
known brands, including Morrisons, Office Depot, Kellogg’s, Mars,
Pepsico, Mondelez, and Kimberly-Clark. Quotient, with offices in London
and Paris, already has a strong European presence through its Shopmium
platform and app.
Forward-Looking Statements
This press release contains forward-looking statements concerning
Quotient’s current expectations and projections about future events and
financial trends affecting its business. Forward looking statements in
this press release include Quotient’s current expectations with respect
to the acquisition of Elevaate the potential of sponsored search and
sponsored product media, and the shopper shift to ecommerce.
Forward-looking statements should not be read as guarantees of future
performance or results, and will not necessarily be accurate indications
of the times at, or by, which such performance or results will be
achieved. Forward-looking statements are based on information available
to Quotient’s management at the date of this press release and its
management's good faith belief as of such date with respect to future
events, and are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those expressed
in or suggested by the forward-looking statements. Important factors
that could cause such differences include, but are not limited to,
Quotient’s financial performance, including its revenues, margins,
costs, expenditures, growth rates and operating expenses, and its
ability to generate positive cash flow and become profitable; the
financial and business impact of the acquisition of Elevaate; Quotient's
ability to adapt to changing market conditions, including Quotient’s
ability to adapt to changes in consumer habits, Quotient's ability to
negotiate fee arrangements with CPGs and retailers; Quotient's ability
to effectively manage its growth; Quotient's ability to successfully
integrate acquired companies into its business; Quotient's ability to
develop and launch new services and features; and other factors
identified in Quotient’s filings with the Securities and Exchange
Commission (the "SEC"), including its annual report on Form 10-K filed
with the SEC on February 16, 2018. Additional information will also be
set forth in Quotient’s future quarterly reports on Form 10-Q, annual
reports on Form 10-K and other filings that Quotient makes with the SEC.
Quotient disclaims any obligation to update information contained in
these forward-looking statements whether as a result of new information,
future events, or otherwise.
About Quotient Technology Inc.
Quotient
Technology Inc. (NYSE: QUOT) is the leading digital promotions,
media and analytics company using proprietary data to deliver
personalized digital coupons and ads to millions of shoppers daily. Our
core platform, Quotient
Retailer iQ™, connects to a retailer’s point-of-sale system and
provides targeting and analytics for consumer packaged goods (CPG)
brands and retailers. Our distribution network also includes our
Coupons.com app and website, thousands of publishing partners and, in
Europe, the Shopmium
mobile app. We serve hundreds of CPGs, such as Clorox, Procter & Gamble,
General Mills and Kellogg’s, and retailers like Albertsons Companies,
CVS, Dollar General, Kroger and Walgreens. We operate Crisp
Mobile, which creates mobile ads aimed at shoppers, and Ahalogy,
a leading influencer marketing firm. Founded in 1998, Quotient is based
in Mountain View, California, with offices across the U.S., in
Bangalore, India; Paris and London. Learn more at Quotient.com,
and follow us on Twitter @Quotient.
Quotient, Quotient Retailer iQ, Shopmium, and Ahalogy are trademarks of
Quotient Technology Inc. All other marks are owned by their respective
owners.
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Quotient Technology Inc.
Media:
Paul Sloan, 650-396-8754
Vice
President, Communications
press@quotient.com
or
Investor
Relations:
Stacie Clements, 650-605-4535
Vice President,
Investor Relations
ir@quotient.com
Source: Quotient Technology Inc.