Following exclusive talks, Global Savings Group (GSG) and M6 Group have both reached an agreement to take over leading French cashback player iGraal.
With iGraal being valued at €123.5 million, the transaction is structured part in cash (for €35 million) and part in exchange of shares. The deal over iGraal is one of the largest transactions in the e-commerce and cashback industry in recent years.
Last year, GSG and iGraal jointly saw more than six million members using its loyalty tools and connected advertisers to around 400 million consumers. The deal makes GSG the largest digital rewards, savings and shopping content platform in Europe.
“The acquisition of iGraal is another significant step on our way to becoming a new European champion. Our various consumer models enable us to reach millions of shoppers worldwide and help them to make smarter purchasing decisions. Contrary to payment providers, we reach our users early in the shopping funnel, before the actual transaction takes place. Together with our publishing partners, our more holistic product offering can satisfy an even greater amount of consumers in their shopping journey,” commented Gerhard Trautmann, co-founder and CEO of Global Savings Group.
“We are very happy to become a part of the Global Savings Group. This new cooperation provides us with the perfect conditions to launch iGraal and grow our cashback community in new markets. Joining forces with GSG, I am confident we will become Europe’s biggest cashback provider and significantly increase our presence globally,” said Matthias Lesterlin, CEO of iGraal.