Consumer purchase data aggregator Cardlytics has agreed to purchase Bridg, a US-based customer data analysis software provider backed by payment services group Visa, for at least $350m in cash.
The transaction could also entail Cardlytics making two cash and stock earnout payments sized between $100m and $300m, one and two years after the acquisition, depending on Bridg’s sales run rate in the United States.
Bridg was founded in 2012 as Ecinity and has built a software product designed to help retailers and consumer brands understand customer behaviour through data in addition to assisting them with providing personalised services.
Cardlytics’ advertising tool is embedded in financial services firms’ digital platforms and allows users to acquire loyalty rewards. The software then helps the service providers analyse how their customers spend money for more effective marketing campaigns.
After the acquisition is completed, Cardlytics will incorporate Bridg’s technology, and users will have access to a combined platform allowing them to enhance their customer outreach strategy.
Bridg had secured approximately $13m in funding, most recently closing an $11m series B round in 2017 led by venture capital firm Morpheus Ventures and backed by Visa, March Capital Partners and NextEquity Partners. Its early investors include Karlin Ventures, The Hive and Canyon Creek Capital.
