Vodafone takes control of mobile coupon firm

The increasing importance of cash-back and coupon sites in modern society has been underlined by Vodafone, which has taken a controlling stake in mobile coupon provider Vouchercloud.

Telecoms giant Vodafone has increased its stake from 21% to 57% in Invitation Digital Limited (IDL), the parent company of Vouchercloud, and has first option to increase its stake in the future.

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"Mobile couponing is set to grow rapidly across Vodafone's businesses as cost-conscious consumers increasingly turn to their smartphones to hunt for bargains and collect loyalty points. We look forward to working more closely with Vouchercloud in future as m-commerce services become ever more central to consumers' daily lives," said Vodafone Group Commercial Development Director Tobin Ireland.

Financial details of Vodafone's increased stake were not divulged.

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