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.
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.