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Friday, March 31, 2023

Cardlytics (NASDAQ: CDLX) Intent to Acquire Bridg

Cardlytics, Inc. (NASDAQ: CDLX) disclosed that it has decided to buy Bridg. After the completion of the acquisition, Bridg will join the advertising platform of the firm. Cardlytics’s advertising platform has an audience of more than 163 million monthly active users.

Strategic Benefits of the Acquisition

This acquisition is beneficial for Cardlytics as it expands the advertising platform of the firm. Bridg offers a cloud-based platform that vendors and CPG advertisers utilize for a broad range of applications.  It has been disclosed that Cardlytics will jointly collaborate with its financial institution allies to consolidate the Bridg solution into its future client offerings.

After the acquisition, and the consolidation of the new platforms, the advertiser will have the opportunity to gain access to clients with a detailed view of their buying behavior. After the purchase of Bridg, the firm will focus on building of holistic 360-degree view of buying behavior.

Financial Consideration of the Acquisition

Cardlytics has been confirmed by Bridg for nearly $350 million in cash after the execution of the deal. The execution of the deal is dependent on the fulfillment of certain conditions. Additionally, the firm has confirmed to pay in cash and stock on the first and second anniversary of the execution dependent on an annual revenue run rate of Bridg. CDLX anticipates that these considerations could equal nearly $100 million to $300 million in total.

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