ATLANTA—PDI announced today that it has agreed to acquire fuel-savings app Gas Buddy to extend the software firm’s capabilities in direct-to-consumer promotional offers and engagement in convenience store and petroleum loyalty rewards programs. The companies didn’t disclose terms of the deal.
Boston-based GasBuddy, which was founded in 2000, has five million active mobile users, representing billions of fuel gallons and hundreds of millions of dollars of convenience retail spend. The GasBuddy app generates fuel pricing information on 150,000 stations across North America. While most of its peer-to-peer interactions are from users searching and posting local gas prices, the app also enables reviews of facilities and supports navigation.
PDI, a global provider of enterprise management software for the convenience retail and petroleum wholesale industries, said it will enable retailers to extend personalized fuel pricing offers in real time to consumers who are on-site or driving nearby. Retailers also will have an opportunity to promote in-store products. PDI said it will enhance GasBuddy’s app to help convenience retailers attract new consumers and help consumers receive offers funded by CPGs and enroll in retailer loyalty programs.
“By enriching the crowd-sourced gas pricing information and the related conversations that consumers are having, we can help retailers drive greater sales and loyalty precisely when and where consumers are ready to buy,” said Brandon Logsdon, president and general manager for Marketing Cloud Solutions at PDI. “This will enhance the experience and utility of the app for its millions of users.”
GasBuddy CEO Sarah McCrary added, “GasBuddy has built an amazing and engaged community. With PDI resources behind them, our users will get even more benefits from the app moving forward. This is a big win for everyone.”
In January, GasBuddy announced a new B2B program, Payments-as-a-Service, to give drivers of participating companies up to 25 cents off every gallon of gasoline purchased using GasBuddy’s consumer payment card, Pay with GasBuddy. The Pay with GasBuddy program now has more than one million users. Drivers who enroll in the program receive a Pay with GasBuddy card that is connected to their checking account; when swiped at the pump, consumers receive automatic discounts on their fuel purchase. Companies, including on-demand delivery companies like Grubhub and Gridwise have also partnered with GasBuddy to help recruit, reward and retain its network of drivers by providing additional fuel discounts through the program.
In addition expanding promotional capabilities, PDI plans to enhance GasBuddy Business Pages by integrating the service with existing PDI products and services to provide convenience retailers with a better understanding of consumer sentiment, along with insights about store visits, purchase behavior and business performance.
Berenson & Company and Moelis & Company served as exclusive financial advisors to PDI and GasBuddy respectively in connection with the transaction.
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