The Cloud Savings Company Limited has today (January 15) acquired Invitation Digital Limited (IDL), owner of digital voucher platforms Vouchercloud and Giftcloud, following a management buy-out from the Vodafone Group.
Terms of the deal, which sees the company back in the hands of its original founders Scott Davidson and Greg Le Tocq, were not disclosed.
Since its launch as Europe’s first voucher app in 2010, UK platform Vouchercloud has become of major player in the digital voucher space, alongside its sister company Giftcloud which was launched in 2014 as “Europe’s first entirely digital gifting app and website”, where users can instantly access digital gift cards while also providing businesses digital rewards and loyalty solutions.
A new era
On the acquisition, Scott Davidson, chairman of Cloud Savings Company Limited said deal represents a “new era of independence for the business and unlimited opportunity for further growth”.
“2017 has been an incredible year for both brands and the support from Vodafone has been important in getting us to this stage. We are excited to be starting the next stage of our growth journey and the future is looking very bright,” commented Davidson.
Looking ahead, Greg Le Tocq, added that the move signals an extremely exciting time in the voucher and incentive marketplace, with “lots of change equalling plenty of opportunity”.
Vouchercloud currently has over 100 employees based in its offices in Bristol, however, Davidson highlights that the buy-out relates only to the ownership shareholding of IDL and won’t affect current staff or operations.
"IDL continues to trade as normal and the transaction relates only to the ownership shareholding of IDL. It is very much business as usual for all our employees and clients".