A California equity investor has acquired a majority stake in Rocky Hill consumer-loyalty reward program vendor Clarus Commerce.
Los Angeles global equity investor Marlin Equity Investors made its investment alongside an early California stakeholder, Norwest Venture Partners, which holds a minority stake, authorities announced Monday.
Financial and other terms were not disclosed. Clarus’ operations and staff remain in Rocky Hill’s Corporate Ridge business park at 500 Enterprise Dr.
Formerly Clarus Marketing Group and previously based in Middletown, the e-commerce software and services provider operates FreeShipping.com and offers technology and marketing products, including loyalty and travel programs, to online sellers.
Raymond James acted as financial advisor and Latham & Watkins LLP was Clarus’ legal advisor. William Blair & Co. LLC acted as financial advisor and Goodwin Procter LLP served as legal advisor to Marlin and Norwest.
