Google's Latest Acquisition is No Hoax
Google (NASDAQ: GOOG) made big news on Monday after it was thought to have acquired ICOA (OTC: ICOA). That news turned out to be completely false, but not before a number of reputable publications reported on the story -- including the Associated Press, which promptly removed its article.
Now that the hoax is over, Google is ready to resume its real acquisition strategy. Today AllThingsD learned that it includes Incentive Targeting, a grocery promo offer company that was started five years ago. Google has acquired the company for an undisclosed sum.
"We look forward to working with Incentive Targeting in our ongoing efforts to help consumers save time and money and enable retailers to deliver relevant discounts to the right customers," a Google spokeswoman told AllThingsD.
Incentive Targeting has confirmed the acquisition with a statement of its own.
"When we founded Incentive Targeting in 2007, we set out to do for retail couponing what Google had done for online advertising: make it simple, relevant, measurable, and effective," the founders wrote on Incentive Targeting's website. "So, it is both humbling and gratifying to be joining the ranks of the company that inspired our initial vision.
"As part of Google, we will have the resources and expertise to continue the transformation of couponing from a way to give discounts to a way to build business. And, we can now work towards that vision as part of a company that improves the lives of hundreds of millions of people every day. "
Follow me @LouisBedigianBZ
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.