Benzinga | Apr 13, 2021 08:31AM EDT

Cardlytics To Acquire Data Platform Bridg For $350M

* Cardlytics Inc (NASDAQ: CDLX) announced its intent to acquire customer data platform Bridg for $350 million in cash to expand Cardlytics' advertising platform with Bridg's SKU-level insights and consumer engagement capabilities across other digital platforms.

* Additionally, Cardlytics has agreed to two potential earnout payments in cash and stock worth $100 million to $300 million on the first and second year of the closing based on Bridg's U.S. annualized revenue run rate.

* Cardlytics had acquired cashback offers platform Dosh for $275 million in cash and stock last month.

* Cardlytics held $293.2 million in cash and equivalents as of Dec. 31, 2020.

* Price action: CDLX shares closed higher by 1.26% at $112.3 on Monday.