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Exponent Private Equity (“Exponent”) announces the simultaneous acquisition of Wowcher and the UK and Ireland operations of LivingSocial, by a new company formed for that purpose.

Both businesses offer discount deals online from a wide variety of merchants, thereby enhancing consumer choice. Wowcher has been acquired from Daily Mail and General Trust plc (‘DMGT’), and the UK and Ireland operations of LivingSocial have been acquired from LivingSocial Inc.  DMGT will continue as a minority shareholder and partner in the newly formed company.

Commenting on the acquisition, Roland Bryan, CEO of Wowcher said: “The combination will benefit our merchants and their customers.  Merchants will have access to a larger audience of potential customers and customers of both brands will benefit from a broader range of deals.  Together with Exponent and DMGT, we look forward to accelerating the growth of the business and continuing to provide great deals on the best products and experiences across the UK and Ireland.”