Gannett Co Inc (GCI) Thursday announced that it has completed the acquisition of Mobestream Media, maker of the Key Ring consumer rewards mobile platform, for an undisclosed amount and other terms.
Key Ring is a leader in the mobile loyalty space with strong retailer relationships. The Key Ring platform supports a variety of business clients across the U.S., including those in retail, restaurants, grocery, convenience and health and fitness.
Gannett further added that Key Ring will operate as a stand-alone business, with Key Ring CEO Chris Fagan reporting to Vikram Sharma, president and CEO of Digital Marketing Services.
Key Ring's capabilities will be part of Gannett Digital Marketing Services mobile product and will serve as a distribution outlet and consumer marketing platform.
"Mobile coupons are a fast-growing segment of the national and local marketing sector. Key Ring has led the way with consumer adoption of its smartphone app and developed key relationships with small and mid-sized retailers," said Gracia Martore, president and CEO of Gannett.
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