UK-based omnichannel customer acquisition platform System1 has purchased CouponFollow, a coupon destination owned by NextGen Shopping, for up to $115m.

Based in New York, CouponFollow is a real-time coupon code search engine and directory that scours the internet for discounts and offers to help shoppers save money.

The platform also provides tools, guides, research and reports to help customers save time.

The acquisition will enable System1 to expedite its e-commerce efforts and expand its product line by integrating a suite of shopping-related products from the platform.

The company also expects to benefit from CouponFollow’s portfolio of more than 5,000 brand partners, which include prominent online retailers in the fashion, travel and electronics categories.

System1 plans to use its Responsive Acquisition Marketing Platform (RAMP) solution to expand the reach of CouponFollow’s operations.

The platform is designed to allow companies to build brands across multiple consumer verticals and deliver high-intent customers to advertising partners.

System1 co-founder and CEO Michael Blend said: “With e-commerce’s continued spending growth, we see a tremendous opportunity to leverage our RAMP customer acquisition platform to further scale CouponFollow’s business.

“Marc Mezzacca and his team have built a great product and bring a wealth of expertise in retail, digital coupons and search engine optimisation (SEO) to System1.

“We are thrilled to welcome them to the System1 team.”

Methuselah Advisors acted as exclusive financial advisor for CouponFollow for the transaction.

Following the acquisition, System1 will retain CouponFollow’s team and will induct NextGen Shopping founder and CEO Marc Mezzacca into its executive leadership team.

Mezzacca said: “Being part of System1 will provide CouponFollow with the platform to grow and compete for market share in this dynamic industry.

“We look forward to bringing our product offerings to what could potentially be millions more consumers in the near future.”