Google buys digital coupons firm Zave Networks

BANGALORE, INDIA: Zave Networks, a digital coupons and incentives platform, announced that it has been acquired by Internet search giant Google for an undisclosed amount.

The company, founded in 2006, made this announcement on the homepage of its website on Friday.

“We are delighted to share that Zave Networks has been acquired by Google. When we had the opportunity to join Google, we felt it was the perfect fit for our company and the perfect opportunity to rapidly drive the deployment and use of our platform to the next level,” read the announcement by Zave Networks.

The company said that since 2006, its small team has been passionate about creating a better platform for incentive programs — like coupons and loyalty rewards — by making them 100 per cent digital, easier, more measurable, efficient and environmentally-friendly.

“In this time, we’ve never lost our pioneering spirit or our focus on simultaneously addressing the needs of three distinct customer groups: consumers, retailers and marketers. Because of this, we have been able to efficiently build, deploy and grow our platform,” it added.

With regards to the takeover by Google, it said it was the perfect fit for the company and the perfect opportunity to rapidly drive the deployment and use of its platform to the next level.

“We're humbled by the unending support our investors, retailers, advertisers, and consumers have provided over the past 5 years, and would like to thank each and every one of them. Going forward, we are excited about being part of Google’s efforts in this space,” read the statement.

In the recent times, Google has been on an acquisition spree. Some of the major acquisitions this year include that of Motorola Mobility as also mobile music firm PushLife, daily deal aggregator The Dealmap, ad tech firm AdMeld, among others.

According to an industry estimate, the search giant has acquired over 100 firms in the last decade.