Affiliate publisher Vouchercodes.com has been purchased by US international coupon company RetailMeNot.
Details of the acquisition are sparse, with RetailMeNot choosing to release no information when contacted by PerformanceIN. The company did however confirm that its acquisition had taken place and that “revenue related to the acquisition is not expected to be material”.
Rather than keeping Vouchercodes.com open and its affiliate links running, Retailmenot has decided to instead redirect everything to its UK property – VoucherCodes.co.uk – as it consolidates the two businesses’ resources.
In its Q2 financials RetailMeNot revealed it had cash and cash equivalents of almost $214 million as part of the firm’s unaudited balance sheets, meaning there is clearly money to spend on acquisitions.
In a byproduct of the recession, companies such as RetailMeNot have built up substantial cash balances to protect themselves from the unforeseen. However, business confidence is currently on the up and it seems that companies are starting to loosen their purse strings.
More facts will undoubtedly emerge when RetailMeNot releases its Q3 results in early November 2014. The cashflow statement should provide some insight, but it will likely be aggregated with any other acquisitions RetailMeNot has made or will make in the future.
James Carter who founded Vouchercodes.com was unable to confirm if he had transitioned across to Vouchercodes.co.uk, but his colleague Chris Farmer who was partnerships director has made the move to RetailMeNot.