Harland Clarke, an “integrated marketing and payment solutions” holding company based in San Antonio, purchased online coupon provider RetailMeNot for about $630m.

Hold on a sec… that was way too dry. Let’s try again.

You know RetailMeNot? The company you see every time you Google “Banana Republic coupon codes?” Apparently, they’re worth a ton of money, and Harland wants to buy them to become even more coupon-y.

Is that even possible?

RetailMeNot makes money by using SEO and cookies to connect bargain hunters with brands, using what’s known as last-click attribution.

Which means whenever someone buys something after seeing one of their coupons, they claim credit for the sale, thereby making an affiliate fee.

Harland — which also owns the company responsible for those annoying Redplum inserts — wants to use RMN to build on their expansive offline coupon channels, where it’s a lot harder to track who buys what.

Which is why Harland Clarke got a great deal

4 years ago when they went public, RetailMeNot was valued at $1.5B. But with declining monetization, their value dropped, and they went from a unicorn to a “unicorpse.”

 

Now, the new company will combine their online and offline advertisers, crank up some coupons, and start saving everyone some money, one piece of junk mail at a time.