Greater Manchester tech company Afin Technologies has become a big player in the North American marketing and promotions market following the acquisition of a US couponing giant.
The Stockport company has acquired Entertainment, a leading provider of local and national price promotions throughout the US and Canada.
The deal sees Afin Technologies take over operation of Entertainment, which connects businesses to consumers with promotional offers via physical coupons and through a mobile app.
Entertainment currently employs 77 people in the USA and is based in Troy, Michigan, close to Detroit.
As part of the deal, Afin will also take on fresh investment from Deepbridge Capital in the UK, and investors in the US.
This will support the creation of 50 new jobs in Troy, Michigan, and 10 new jobs in Stockport.
The deal follows the US-only launch of Afin’s app Buxbo, which offers a fresh take on the popular American pastime of ‘couponing,’ collecting coupons to save as much money as possible on shopping and meals out.
By acquiring Entertainment, Afin consolidates its place in the mobile couponing market.
Buxbo complements Entertainment’s traditional coupon-based discounts by offering targeted promotions.
The company said the app ‘puts the right offers to the right hands, at the right place and time,’ to help restaurants and retailers develop more loyal customer bases. Buxbo lets a business launch a new offer within seconds, and run it for as little as a day, or as long as a year or more.
Afin Technologies was founded in Stockport, initially under the name SurveyMe, before expanding to open an office in Newport Beach, California, where founders Lee and Nicola Evans are now based.
The new jobs will bring the total number of employees at the company in Stockport to 19.
Lee Evans, CEO of Afin Technologies said: “SurveyMe started in our spare bedroom in Stockport and we took our first steps of growth in the town. Now under the name Afin Technologies we’re excited to be sharing our expansion in the States with our hometown.”
Ian Warwick, managing partner at Deepbridge Capital, added: “We are delighted to continue to support Afin Technologies on this next step of their journey. The acquisition of Entertainment promises to be great news for both parties, with the creation of new jobs and the introduction of a dynamic approach to the coupon market.”
