June 20 (Reuters) - Retail marketing firm Neptune Retail Solutions will acquire Coupons.com-parent Quotient Technology for $430 million in cash, the companies said on Tuesday.

Quotient's shares jumped about 17% in the early session and were trading 9 cents shy of the $4 offer price.

The company had been exploring options that included a sale, Reuters reported in March, as its clients slashed advertising spending amid fears of an economic slowdown.

Founded in 1998, Quotient operates Coupons.com and other digital marketing platforms that offer promotions to consumers, mostly in the U.S. packaged food and grocery segments.

Its clients include some of the world's biggest consumer companies such as Kellogg's and Coca-Cola.

Private investment firm Charlesbank Capital Partners, which is a major shareholder of Neptune, will be the majority investor in the combined company.

Neptune CEO William Redmond will lead the merged entity.

The transaction is expected to close in the second half of 2023, and Quotient will go private upon completion of the transaction.

Houlihan Lokey is serving as a financial adviser to Quotient, while PJT Partners is advising Neptune.

(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Anil D'Silva)