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Print Edition StoriesCartera Commerce, the Lexington company formerly known as Mall Networks, has acquired Atlanta-based in-store merchants rewards vendor Vesdia for an undisclosed amount.
Vesdia president and CEO Jim Douglass is now the executive vice president of retail advertising and partnerships at Cartera and has joined the board of directors. Also joining the board is Vesdia chairman Pete Kight, who also serves as co-chairman of the Comvest Group and previously the founder, chairman and CEO of CheckFree Corp.
Cartera claims that, following the purchase, it is now the industry’s top provider of multi-channel merchant networks and performance advertising solutions, reaching more than 150 million consumers and with a client roster of more than 1,000 merchant partners, including four of the top 5 U.S. card issuers and three of the four largest U.S. airlines.
In July 2010, Cartera, then still called Mall Networks, closed a $6.7 million Series C round of venture capital financing from its four existing institutional investors, Dace Ventures, Flybridge Capital Partners, Venture Capital Fund of New England and LBO Enterprises. That round brought the company’s total venture investment to at least $17.6 million.
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