Munich, Germany-based Global Savings Group and M6 Group reached a deal on a take-over of the French cashback player iGraal.
The transaction involves a partial acquisition in cash of €35 million and an exchange of shares with iGraal valued at €123.5 million.
In 2019, GSG and iGraal jointly saw more than six million members using its loyalty tools and connected advertisers to around 400 million consumers.
The deal makes GSG the largest European digital rewards, savings and shopping content platform.
Founded in 2012 by Adrian Renner, Andreas Fruth, and Gerhard Trautmann, Global Savings Group is a European Commerce Content platform focusing on the delivery of consumer rewards, cashback, savings opportunities, and shopping content.
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