Deluxe Corporation bought the marketing firm OrangeSoda, Inc. for $27.7 million in cash, according to a statement by Deluxe on Tuesday.
The acquisition is projected to generate about $15 million in incremental revenue, according to the statement.
"Deluxe will accelerate revenue growth in marketing solutions and other services by combining our organic capabilities with OrangeSoda's innovative solutions, scalable provisioning platform and tools, and established market presence," Malcolm McRoberts, senior vice president small business services at Deluxe, said in the statement. "OrangeSoda has built compelling services offers and channels targeted at key small business marketing pain points. As a result of this acquisition, Deluxe adds differentiated solutions and capability that help support growth for our small business customers."
OrangeSoda is a leading Internet marketing services company that specializes in mobile, search and social media campaign strategies for small businesses, according to the statement. It employs about 175 people and is headquartered in American Fork, Utah.
Approximately four million small business customers use Deluxe's programs in checks customer acquisition, fraud prevention, profitability and regulatory compliance, according to the statement. Deluxe also provides logo design, search engine marketing, customized checks, and website development and hosting.
"Deluxe is a great fit for OrangeSoda because both companies are focused on helping small businesses grow their online presence," Jay Bean, chief executive and founder of OrangeSoda, said in the statement.