CINCINNATI - The Kroger Co. has acquired a Silicon Valley company that specializes in digital coupons and promotions. It represents an expansion of the retailer's digital footprint, which began in 2009 and included 400 million digital coupon downloads in the last 12 months.
Kroger acquired YOU Technology, LLC, a San Francisco-based company that has worked with Kroger for several years. A former Kroger executive, Ken Fenyo, is listed on You Technology's web site as a member of its management team. The newly acquired unit will operate as an independent company within Kroger. The company currently serves approximately two dozen retailer clients operating 65 store banners.
As WCPO has previously reported, Kroger has been expanding its digital capabilities for years. The deal will have no employment impact on Cincinnati, according to a company spokesman. Terms of the purchase were not announced.
"YOU Tech's nimble and innovative digital coupon platform has enabled Kroger to deliver hundreds of millions of digital coupons to Kroger customers," said Jeff Talbot, Kroger's vice president of customer loyalty. "This is a good strategic fit for both Kroger and YOU Tech. YOU Tech will benefit from Kroger's strong balance sheet as it continues to expand its digital platform to many other retailers and CPG partners."
Cheryl Black, YOU Tech's chief executive officer added: "We intend to build and grow the premier retailer and customer-centric digital coupon platform in the industry, while continuing to deliver for our broad base of retail customers. We look forward to partnering with Kroger and other retailers and CPG companies to continue driving growth."
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