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San Antonio-based Harland Clarke announced Monday it has acquired RetailMeNot for $11.60 per share or approximately $630 million.

Harland Clarke, a payment solutions and marketing services company, is a wholly owned subsidiary of MacAndrews & Forbes Inc., which is owned by Chairman and Chief Executive Officer Ronald O. Perelman, a billionaire.

In 2013, Harland Clarke bought Valassis Communications, a marketing company that distributes coupons and newspaper inserts, based in Livonia, Michigan, for $1.84 billion.

RetailMeNot, the world’s largest coupon site, has 527 employees, primarily in Austin, but it also has offices in Hoboken, Phoenix and international offices. The company will remain based in Austin and Cotter Cunningham, its founder, will continue on as Chief Executive Officer, according to a spokeswoman.

The combined company creates a large multi-channel media network with tens of thousands of advertisers, reaching millions of consumers worldwide. RetailMeNot, a marketplace that helps retailers and brands connect with shoppers, features more than 600,000 coupons and offers for 70,000 retailers.

Harland Clarke is paying a premium of about 50 percent over the closing share price of RetailMeNot’s common stock on April 7th and approximately 36 percent over the average closing share price for the 60 calendar days ended April 7th, according a news release.

RetailMeNot’s board of directors has unanimously approved the deal. The transaction is expected to close in the second quarter,

“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 Harland Clarke, said in a news release.

“This is an exciting and important milestone for RetailMeNot,” Cunningham, CEO and founder of RetailMeNot, said in a news release. “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.”

Cunningham founded RetailMeNot, the world’s largest online coupon and deals marketplace, in 2009. The company raised approximately $300 million from investors including Austin Ventures, Norwest Venture Partners, Adams Street Partners, Institutional Venture Partners, JP Morgan and Google Ventures.

In 2013, RetailMeNot began trading on the NASDAQ market raising $191 million during its initial public offering with its stock trading at $27.70 a share, according to Bloomberg.

RetailMeNot’s stock closed at $7.75 a share on Monday and it has since surged to $11.55, up 49 percent in after hours trading.

RetailMeNot started out in Austin as WhaleShark Media and changed its name in 2013 after acquiring RetailMeNot.com, an Australian-based coupon site founded in 2006.

Cunningham largely grew RetailMeNot into the world’s largest coupon and deal offer site through a series of global acquisitions. The company acquired eConversions, based in London, VoucherCodes.co.uk, based in the United Kingdom, Gutschein-Codes.de in Germany, ActiePagina.nl in the Netherlands and Ma-Reduc.com and Poulpeo.com in France.

RetailMeNot also bought ZenDeals.com in 2013 and Giftcard Zen, a secondary gift card market in 2016.