2023-06-20 09:51:24 ET
- Digital promotions and media technology company Quotient Technology ( NYSE: QUOT ) said on Tuesday that it is set to be acquired by the retail marketing company Neptune Retail Solutions in an ~$430M transaction.
- Quotient's shareholders will receive $4.00 per share in cash, representing a premium of ~36% to the company's 30-day volume weighted average price as of June 16 market close.
- Neptune's current majority investor, Charlesbank Capital Partners, will be the majority investor of the combined company.
- Neptune CEO William Redmond will be CEO of the combined company.
- The all-cash transaction has been approved by Quotient's board.
- The transaction is expected to close in H2.
- Source: Press Release
For further details see:
Retail marketing company Neptune Retail to acquire Quotient Technology