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Global Savings Group inks deal to buy digital cashback platform iGraal

Global Savings Group inks deal to buy digital cashback platform iGraal
Global Savings Group inks deal to buy digital cashback platform iGraal

Reports confirm that the Global Savings Group (GSG) has agreed on a deal with M6 Group for acquiring iGraal, a leader in digital cashback based in France. The agreement consists of a partial acquisition for €35 million in cash and an exchange of shares.

GSG had bought the U.K. loyalty specialist Pouch in 2018 and now the incorporation of the digital cashback solution of iGraal will allow the Group to encompass the entire e-commerce cycle of consumers with Commerce Content.

The transaction to buy the French cashback player is among the largest deals across the industry in recent times. iGraal is considered as the most important digital cashback company in France and is valued at €123.5 million, subject to adjustments. GSG and iGraal, combined, had recorded over 6 million members in 2019 utilizing its loyalty tools and helped connect advertisers to more than 400 million consumers.

Both the companies will together seek to expand their loyalty and cashback solutions further, targeting new markets in Europe and increase their footprint and total memberships considerably. GSG is anticipated to remain profitable through 2020, even after substantial investments and market expansion efforts.

GSG, apparently, will target more than 500 million shopping-related touchpoints in 2020, along with facilitating over 40 million transactions for its merchant partners. The Group has expanded its reach significantly with the new synergies created through the combined offerings of cashback, rewards, voucher codes and shopping content. It can now broaden its access points to consumers via dedicated app, website and extension experiences.

iGraal will offer deep expertise in digital marketing and member acquisition to Global Savings Group. It has robust partnerships with major online merchants and boasts state-of-the-art technology for loyalty offerings.

CEO and co-founder at GSG, Gerhard Trautmann believes acquiring iGraal represents a major step towards becoming a new champion in Europe. The Group’s different consumer models allow it to reach millions of shoppers globally and enable them to make smarter buying decisions. Unlike payment providers, GSG reaches its users before the actual transaction goes through, early in the shopping funnel, Trautmann said.

 

Source Credits: https://siliconcanals.com/news/german-company-global-savings-group-acquires-french-cashback-player-igraal-for-e123-5m/

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Nandita Bhardwaj

Nandita holds a management degree with specialization in marketing, and boasts of a short-term experience in the field of recruitment. Following her passion for writing however, she decided to pursue a career in the field of content development. Presently, Nandita pens down news pieces for newsorigins.com, spanning the verticals of business, finance, and technology.