From 2011 to 2013, card-linked offers (CLO) was all the rage– you could say it was the AI of that era. The trend peaked in 2012, when it seemed every other fintech company added some type of card-linked offers. As is typical with explosive trends such as these, we’re now seeing industry consolidation.
This week that consolidation comes in the form of successful CLO player Edo Interactive being acquired by Auego. Minnesota-based Auego will add Edo’s CLO technology to its loyalty and engagement offerings, which will provide Edo access to a larger client base. The terms of the deal were not disclosed.
Since launching in 2007 Edo has partnered with hundreds of national and local merchants, helping each tailor a personalized digital marketing campaign to drive sales. At FinovateSpring 2012, the Nashville-based company (pictured right) launched its GeoCommerce feature that enabled retailers to push offers to users’ phones based on their geolocation.
Ed Braswell, Edo CEO said, “…the combination of our platforms helps solve the challenges many others face with content and delivers the strategy, data insight and analytics required for programs to be sustainable and successful. Heading into 2017, we intend to deliver the next generation of card-linked loyalty with the most premier partners in the space.”
This is Auego’s seventh acquisition since launching in 1998. The company will preserve the Edo brand along with its operations and headquarters location.