We are thrilled to announce that Cardlytics will acquire, Bridg in a US$350m deal, plus earnout.
With great excitement, we share the news that Bridg has agreed to be acquired by Cardlytics this morning. Subject to fulfilment of certain closing conditions set forth in a definitive merger agreement signed by the parties, Cardlytics has agreed to acquire Bridg for approximately $350 million in cash at closing, subject to customary adjustments for debt, transaction expenses, cash and a normalized level of working capital.
In addition, Cardlytics has agreed to make two potential earnout payments in cash and stock on the first and second anniversary of the closing based on Bridg’s U.S. annualized revenue run rate, which could deliver significant additional consideration to the shareholders. Cardlytics expects these payments could equal approximately US$100 million to US$300 million in the aggregate.
This transaction represents a unique opportunity to deliver significant value for all shareholders. The acquisition by Cardlytics takes the Company to the next level in a way that is fully aligned with the strategic foundation that has been built since we funded the company 4 years ago.
We are honoured to have been on this tremendous journey with Amit Jain and the entire Bridg management team.
Congratulations!
The Morpheus Team
