RetailMeNot, Austin’s big digital discounts company, is being acquired by Harland Clarke Holdings Corp. for $11.60 per share cash, the company announced Monday. That’s about 50 percent over the closing price for RetailMeNot at the end of last week, and the deal has an equity value of about $630M.

RetailMeNot Founder and CEO Cotter Cunningham

The deal was unanimously approved by RetailMeNot’s board, and it’s expected to close in Q2 this year. Harland Clarke Holding, based in San Antonio, is a wholly-owned subsidiary of MacAndrews & Forbes Incorporated and owner of Valassis.

“Not only are we delivering an immediate and significant cash premium to our stockholders, but we are also meaningfully advancing our goal of becoming a leading savings destination for consumers,” founder and CEO Cotter Cunningham said in a statement. “This acquisition is a testament to the unwavering commitment and hard work of our 500 plus dedicated employees. Having founded RetailMeNot over seven years ago, I firmly believe that Valassis not only shares our commitment to consumers and merchant partners, but supports continued innovation in driving new solutions for retailers and brands. I am confident in the future of RetailMeNot in its partnership with Valassis and look forward to working closely with the combined team to ensure together we become the premier savings destination.”

RetailMeNot (SALE:NASDAQ) was founded in 2009. It raised about $300 million in private investment, including funding from The company went public in July 2013 in an IPO that raised $191 million. It’s stock struggled significantly at times since then as competition, changing consumer habits and other factors discouraged investors. Valassis, however, has access to a huge client base and plans to bring in offers from Valassis clients to RetailMeNot, giving it a big boost.

“RetailMeNot provides a new global digital channel to distribute our clients’ offers that perfectly complements Valassis’ current digital, mobile, mail and other print networks. RetailMeNot’s capabilities span multiple platforms and channels including web, mobile and app, delivering online coupons and sales, discounted gift cards, and cash back offers, along with food, dining and travel offers,” Victor Nichols, CEO of HCH, said.