Ronald Perelman’s MacAndrews & Forbes Inc. is planning to sell online coupon company RetailMeNot Inc. to an internet information and services company for around $420 million.
RetailMeNot agreed to sell its assets to J2 Global Inc. in a transaction expected to close in the fourth quarter, according to a statement Tuesday. Discount drug company RxSaver, which is housed under the RetailMeNot umbrella, has also been up for sale but isn’t part of the transaction, according to people with knowledge of the plans who asked not to be identified.
RetailMeNot partners with than 5,000 retailers including Macy’s Inc., Sephora, and Best Buy Co., according to its website. It compiles coupon codes and cash-back options for customers shopping online and in stores.
J2 Global’s portfolio includes Mashable, Humble Bundle, Speedtest, PCMag, Offers.com, Spiceworks, Everyday Health, BabyCenter and eFax, according to the statement.
RetailMeNot held sale discussions with interested buyers including private equity