SAN ANTONIO and LIVONIA, Mich. (12/19/13)--Harland Clarke Holdings Corp., a provider of payment solutions and marketing services, has acquired the marketing company Valassis for $1.84 billion in cash.
Harland Clarke is a CUNA Strategic Services provider.
"This is a strong complement to Harland Clarke Holdings' capabilities in managing customer relationships for the world's largest financial institutions, the most respected big-box retailers, as well as educational and governmental organizations worldwide," said Chuck Dawson, CEO of Harland Clarke Holdings Corp.
Valassis has relationships with more than 15,000 advertisers worldwide in various industries, including automotive, consumer electronics, consumer packaged goods, financial services, franchise food, grocery, specialty retail and telecommunications. Among the marketing services it offers are direct-marketing products, such as grocery coupon dispensers, newspaper inserts, social media promotions and online display advertising.
The deal will create a company with about $3.3 billion in combined revenues.
"Under Harland Clarke Holdings, we expect to create a company that is stronger than our individual businesses, which will allow us to pursue our vision of intelligent media delivery while continuing to strengthen our company's award-winning culture," said Rob Mason, president/CEO of Valassis.