The Global Savings Group from Munich says it is in exclusive negotiations to take over Igraal and has already made a binding offer for the cashback provider.
The Munich-based commerce content company has offered €35 million plus a share swap for Igraal. Igraal, based in the Paris suburb of Boulogne-Billancourt, would then achieve a valuation of €123.5 million. Negotiations are currently ongoing. Employee representatives also still need to be consulted.
“Our next step is to conquer the European cashback market”
Igraal is the market leader in the French online cashback segment and the second-largest player in Germany. The company boasts a community of more than six million members. In 2019, the French company aims to generate net sales of €40 million—"while maintaining high profitability," according to a press release. Compared to the previous year, the company increased its sales by 30 percent. Gerhard Trautmann, Co-Founder and Managing Director of Global Savings Group, says:
"The acquisition of Igraal by Global Savings Group would create incredible synergies. Our next step is to conquer the European cashback market together with the Igraal team and expand our commerce content offering for advertisers, consumers, and publishers alike. We value the Igraal team's high level of expertise and experience. Thanks to their technology and existing user base, we are taking an important step towards becoming the world's most important commerce content platform."
Founded in 2012, Global Savings Group, with its 400 employees, offers online shoppers reviews, discount coupons, and offers. The company operates in more than 20 countries and recently acquired a Investment of 12 million euros announce.
