Cardlytics Completes Acquisition of Bridg
ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) -- Cardlytics (NASDAQ: CDLX), one of the largest digital advertising platforms, announced today the completion of its acquisition of Bridg, a customer data platform. Previously announced on April 13, the acquisition pairs Cardlytics’ advertising platform, with visibility into one in every two card swipes in the U.S., with Bridg’s enhanced SKU-level insights. Together, the combined capabilities are expected to power a more comprehensive view of consumer purchase behavior, accelerating the creation of a holistic, results-driven, self-serve, always-on advertising solution for brands.
“With the loss of third-party cookies on the horizon, now more than ever it’s imperative for brands to have trusted partners who take a privacy-first approach while also delivering deep, robust first-party consumer insights,” said Lynne Laube, chief executive officer and co-founder of Cardlytics. “Not only does Bridg give Cardlytics’ advertisers the ability to understand consumer purchase behavior down to the product level, but it does so with shared consumer privacy best practices at the forefront.”
Cardlytics acquired Bridg for approximately $350 million in cash at closing. In addition, Cardlytics has agreed to make two potential earnout payments in cash and stock on the first and second anniversary of the closing based on Bridg’s U.S. annualized revenue run rate. Cardlytics expects these payments could equal approximately $100 million to $300 million in the aggregate.
This transaction was Cardlytics’ second acquisition this year. The first acquisition of Dosh, based in Austin, Texas, closed on March 5, 2021.
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco, Austin, and Visakhapatnam. Learn more at www.cardlytics.com.
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This press release includes information that constitutes “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risk and uncertainties. These statements include the expectations regarding the integration of Bridg with Cardlytics, the amount and timing of payments pursuant to the merger agreement and the anticipated benefits of the acquisition, including the opportunity to fully understand and reach our total addressable market in an increasingly crowded space, accelerating the creation of a holistic, results-driven, self-serve, always-on advertising solution for brands, and Cardlytics’ delivery of targeting capabilities to brands across all marketing investments. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of the companies may differ materially from the future results, performance and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include the satisfaction of closing conditions of the acquisition. Uncertainties regarding technical difficulties, issues that might arise in any particular business relationship and other risks and uncertainties are set forth in Cardlytics’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 4, 2021 and Cardlytics’ other periodic reports that it files with the Securities and Exchange Commission from time to time. The statements made in this press release are based on information available to Cardlytics as of the date of this press release and Cardlytics undertakes no obligation to update any of the forward-looking statements after the date of this press release.