Whilst the size of the acquisition hasn't yet been disclosed, it is reported to be around $40 (£25) million in cash and stock, with further announcements to be expected later in the day.
WhaleShark Media have recently received investment by Google Ventures and have previously acquired six other voucher / coupon sites including couponshare, cheapstingybargains.com, deals2buy, coupon7, deals.com and retailmenot. With Whaleshark Media earning an estimated $50 million/year prior to this acquisition, it's likely that VoucherCodes.co.uk will add an additional $15 million in revenue to this figure, increasing WhaleShark's revenue by around a third.
Founded by brothers Duncan and Max Jennings in 2004, eConversions launched VoucherCodes.co.uk in August 2008, soon to be competing with UK's largest Voucher Code Sites and in 2010 at the annual A4u Performance Marketing Awards, eConversions picked up a record four a4uAwards. In November 2009, eConversions launched their Voucher offering in Germany with Gutschein Codes.
Bosting more than four million subscribers to it's weekly email newsletter, WhaleShark's CEO Cotter Cunningham is said to have been particularly attrated to eConversions' email marketing prowess.
Exclusive comments from Duncan Jennings are expected later today. Check back for more information regarding this acquisition.