Harland Clarke Holdings Corp., a provider of integrated payment products and marketing services, has announced a definitive agreement to acquire RetailMeNot Inc., a savings destination that connects consumers with retailers, restaurants and brands, both online and in-store.

Under the agreement, Harland Clarke, a wholly owned subsidiary of MacAndrews & Forbes Inc. and owner of the media delivery company Valassis, will acquire all of the outstanding shares of RetailMeNot Series 1 common stock for $11.60 per share in cash.

The combined companies will create an omnichannel media network with tens of thousands of advertisers reaching hundreds of millions of consumers around the world, according to a press release. 

"This is an exciting and important milestone for RetailMeNot," CEO Cotter Cunningham said in a statement. "Not only are we delivering an immediate and significant cash premium to our stockholders, but we are also meaningfully advancing our goal of becoming a leading savings destination for consumers. This acquisition is a testament to the unwavering commitment and hard work of our 500-plus dedicated employees."