Digital advertising platform Cardlytics, Inc. (CDLX) announced Tuesday its intent to acquire customer data platform Bridg for about $350 million in cash, subject to closing conditions.
Further, Cardlytics has agreed to make two potential earnout payments in cash and stock on the first and second anniversary of the closing based on Bridg's U.S. annualized revenue run rate. These payments could equal approximately $100 million to $300 million in the aggregate.
Once the integration is complete, this addition will pair Cardlytics' advertising platform with Bridg's enhanced SKU-level insights and ability to engage consumers across other digital platforms.
Bridg provides a cloud-based platform that retailers and CPG marketers use for a wide range of applications, including analyzing customer behavior, marketing on digital platforms, and measuring the effectiveness of their business strategies, while following consumer privacy best practices.
Cardlytics will work with its financial institution partners to integrate the Bridg solution into its future customer offerings.
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