Mpls-Based Digital Mktg. Firm Plans Merger
The Grocery Shopping Network, Inc. (GSN)—a Minneapolis-based provider of digital marketing services for grocery retailers and packaged foods companies—has reached a deal to merge with PlaceWise Media, a Denver-based company.
Financial terms of the deal were not disclosed in the companies’ announcement.
PlaceWise Media, through its “Shoptopia Network,” is an online marketing platform and an aggregator of products from more than 400 malls and 1.2 million retail locations, and the company says its platform features 20 million different SKUs, or individual products. Online shoppers can search by location or other characteristics to find products.
The combined entity will operate under the PlaceWise Media moniker, and the two companies said they have been working together to develop new offerings for the grocery, mall, and retail industries under the Shoptopia Network brand.
The GSN acquisition effectively expands the Shoptopia Network shopping platform to include content—including featured products and weekly specials—from grocery stores.
The deal is expected to close in early February.
“The merger of GSN and PlaceWise delivers immediate benefits to both companies’ existing client base,” GSN Chairman David Carlick said in a statement. “PlaceWise leadership in retail shopping, plus the PlaceWise platform and technology, extended to GSN’s leading position in grocery center programs and deals provides scale for retailers, brands, and media companies.”
PlaceWise Media CEO Mort Aaronson said in a statement said the acquisition will add more than 3 million unique visitors to PlaceWise’s platform each month, which attracts 7 million monthly shoppers, making it “the largest shopper marketing platform in the U.S.”