Gannett Company Inc
), publisher of one of the largest-selling daily newspapers, USA
Today, announced the acquisition of Mobestream Media, creator of
the Key Ring Reward Cards mobile application. However, financial
terms of the deal were not disclosed.
Key Ring is a market leader in the mobile loyalty space
facilitating customers to store loyalty cards, connect to new
programs and get mobile coupons on smartphones. Moreover, the app
is extremely handy for the companies to enhance their relationship
with clients by attracting and retaining customers as well as
market their offerings.
The move comes as a part of Gannett's strategy to revamp itself
by increasing digital applications. Also, this step marks its entry
into the mobile consumer loyalty space.
Gannett is taking initiatives to diversify its business model by
adding new revenue streams in an effort to safeguard itself from
adverse economic conditions. The company is adapting to the
constantly evolving multi-platform media universe, which currently
includes Internet, mobile, tablet and social media networks.
Owing to its expertise in the mobile loyalty space, Key Ring
will be a part of Gannett Digital Marketing Services mobile
product. Also, due to its ability to build retail relationships, it
will cater as a consumer marketing platform.
Earlier, Gannett announced the acquisition of BLiNQ Media LLC,
provider of social media marketing solutions for companies.
Currently, advertisers are migrating to the Internet, owing to
increasing online readership and lower online advertising prices
compared to print.
With the ever-increasing demand, the acquisition keeps Gannett
well poised in social media marketing, as BLiNQ is the industry
leader in managing social media marketing campaigns.
Currently, we maintain our long-term Neutral rating on Gannett.
However, Gannett, which competes with
The New York Times Company
), holds a Zacks #2 Rank that translates into a short-term Buy
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