SAN FRANCISCO, Aug. 12, 2014 /PRNewswire/ -- The McClatchy Company (NYSE:MNI), a leading news and information provider and publisher of iconic news brands such as the Miami Herald, The Kansas City Star and The Sacramento Bee, is making a strategic investment in Engage3, a pioneering developer of retail intelligence and mobile shopping solutions. The two companies also are working together to identify markets where McClatchy media properties can introduce Engage3's ShoppingScout app as a valuable new service for its readers and subscribers.
The amount of the investment, which will be used to accelerate market adoption of Engage3's ShoppingScout mobile application, was not disclosed.
"This is an exciting digital investment for McClatchy. Engage3 is at the forefront of transforming the retail shopping experience by empowering consumers with personalized, timely shopping information," said Christian A. Hendricks, McClatchy's vice president, interactive media. "Engage3's vision aligns nicely with McClatchy's commitment to providing our audiences with information relevant to their daily lives and connecting shoppers and advertisers."
Engage3′s mobile application, ShoppingScout (www.shoppingscout.com), helps consumers find information on brands and retailers and receive promotional offers via social, digital and print media. Engage3 uses sophisticated algorithms to determine the shopper's intent to buy and makes that information available to partnering grocery retailers and manufacturers so they can respond with personalized offers.
"We are thrilled that McClatchy is joining us an investor and a partner with a shared vision for delivering a personalized shopping experience for consumers. McClatchy's history of investment success with emerging digital companies that became market leaders is a tremendous endorsement and a validation of our business," said Ken Ouimet, CEO of Engage3.
The McClatchy Company is a leading news and information provider, offering a wide array of print and digital products in each of the markets it serves. McClatchy's operations include 29 daily newspapers, community newspapers, websites, mobile news and advertising, niche publications, direct marketing and direct mail services. The company's largest newspapers include the (Fort Worth) Star-Telegram, The Sacramento Bee, The Kansas City Star, the Miami Herald, The Charlotte Observer and The (Raleigh) News & Observer. McClatchy is listed on the New York Stock Exchange under the symbol MNI. www.mcclatchy.com
Engage3 is a participatory commerce platform that works with retailers, manufacturers and media outlets to deliver personal shopping experiences and provide increased sales and market share. To help companies better understand shopper intent-to-buy and unlock billions of dollars in currently inaccessible profits, Engage3 uses intelligent sales agents to support consumer media and app providers in creating marketplaces reaching millions of consumers. The Engage3 personal shopping assistant, called ShoppingScout, is key to enabling consumers to better manage their shopping, find products, plan their shopping trips and negotiate for individual discounts. More information is available at www.engage3.com.