LONDON: Eagle Eye, a UK-based SaaS and AI technology firm, announced Monday it has acquired Dublin-based Promotional Payments Solutions Limited for a net consideration of €5.5 million, in a move to deepen its footprint in the fast-growing market of CPG-funded couponing and digital loyalty solutions.
The acquisition brings new enterprise customers into Eagle Eye’s portfolio and strengthens its existing ties with major retailers and consumer packaged goods brands, according to a company statement. Promotional Payments Solutions’ team, including CTO Les Carter, will join Eagle Eye following the deal.
The €7.5 million total consideration includes €2 million in unrestricted cash held on Promotional Payments Solutions’ balance sheet, funded through Eagle Eye’s existing reserves.
Founded in 2014, Promotional Payments Solutions operates a real-time digital marketing platform, with flagship tools such as PromoPay and PromoBase that facilitate coupon processing and performance analytics across the UK and Ireland. Its clients include the Musgrave Group, The Co-operative Group, Tesco UK, and several global CPG companies.
The firm reported unaudited SaaS revenues of €3.2 million and an adjusted EBITDA margin of approximately 30% for the year ended Dec. 31, 2024. The acquisition is expected to be immediately accretive to Eagle Eye’s earnings per share, with anticipated annual cost synergies of €0.3 million at completion.
CEO Tim Mason said the acquisition positions Eagle Eye to meet rising demand for real-time retail marketing tools. “Promotional Payments Solutions’ capabilities in real-time couponing are a strong addition to our AIR platform,” Mason said. “We’re excited by the new avenues for growth this represents.”
Promotional Payments Solutions’ CEO Rory Meehan called the deal a natural evolution for the firm. “The alignment in values, ambition, and technology between the two companies gives us great confidence that the team, customers, and platform will continue to thrive as part of the Eagle Eye Group,” he said.
Eagle Eye plans to issue a trading update for the financial year ending June 30, 2025, on July 15.