CINCINNATI -- A Silicon Valley company is set to acquire Ahalogy, one of Cincinnati's fastest-growing startups, in a deal worth up to $50 million.
Quotient Technology Inc. has agreed to purchase Ahalogy for $20 million in cash plus an additional $30 million that could be paid if the company meets "certain financial metrics" through the end of 2019, according to a Quotient press release.
It's the latest in a series of acquisitions involving Cincinnati companies.
Ahology is a 6-year-old company that uses social-media influencers to build brands for consumer-product companies. Quotient is a digital marketing company that sends coupons and ads to millions of shoppers daily.
Quotient wants to use its Retailer IQ platform to help Ahalogy grow by tracking purchase data that quantifies the impact of its marketing campaigns on retail sales.
"We couldn't be more thrilled to join Quotient," said Ahalogy CEO Bob Gilbreath, who co-founded the company in 2012 and is expected to remain in charge after the purchase is completed this month. "This is a great opportunity to bring our influencer marketing capabilities to the more than 2,000 brands within Quotient's network, giving CPG brands and retailers a single company to manage much of their digital marketing."
The deal is an expansion of Quotient's investment in Cincinnati, which employs about 120 people. Ahalogy has about 50 employees.
"Ahalogy is a perfect fit for Quotient as we expand and grow our digital media solutions," said Quotient CEO Mir Aamir. "This gives us another capability to deliver efficient digital media campaigns that reach valuable shoppers, including our 100 million verified buyer audience, using our proprietary shopper data to drive sales and measure performance."