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Gannett Co. Inc., owner of 80 newspapers including the Democrat and Chronicle and USA Today, announced Thursday it has acquired Mobestream Media.
Mobestream is the maker of Key Ring, an app for smartphones that allows users to scan and store loyalty cards, join rewards programs and get mobile coupons and promotional offers. More than 5 million users have downloaded Key Ring since it emerged in 2010, Gannett officials said.
“Mobile coupons are a fast-growing segment of the national and local marketing sector,” said Gracia Martore, president and CEO of Gannett, in a statement. “Key Ring has led the way with consumer adoption of its smartphone app and developed key relationships with small and midsize retailers.”
Martore said Key Ring will enable Gannett’s business clients to enhance and grow their relationships with customers.
The Key Ring app will become a part of Gannett Digital Marketing Services mobile product. However, Key Ring will operate as a stand-alone business, officials said. Financial terms of the acquisition were not disclosed.
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