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Google takes over coupon-centric marketing firm Incentive Targeting

Google has acquired retail couponing firm Incentive Targeting for an undisclosed sum, the web giant confirmed.

Founded in 2007, Incentive Targeting provides targeted marketing services to manufacturers of grocery and consumer products. The Massachusetts-based company offers a self-service, web-based application for creating and managing targeted promotions. The company's patented software allows marketers to view sales data and trends, and then leverage that information as part of coupon campaigns.

"We look forward to working with Incentive Targeting in our ongoing efforts to help consumers save time and money and enable retailers deliver relevant discounts to the right customers," a Google spokeswoman said in a statement.

In its announcement of the acquisition, Incentive Targeting said it will now have the resources to "continue the transformation of couponing from a way to give discounts to a way to build business."

"When we founded Incentive Targeting...we set out to do for retail couponing what Google had done for online advertising: make it simple, relevant, measurable, and effective," the company said. "So, it is both humbling and gratifying to be joining the ranks of the company that inspired our initial vision."

Google acquisition news made waves earlier this week after a rogue press release hit the web stating that Google had bought wireless Internet network provider ICOA for $400 million (£250 million). Many tech publications picked up the news, but a Google source and ICOA's CEO later shot down the report. ICOA was never even in discussions with any potential acquirers, he said.