Stone's $5M helps Philly's Clutch buy mobile-ads firm

Clutch,  a retail-sales management-and-analytics software-platform developer that employs 50 at its Philadelphia offices, has bought Persio, a 25-person, Chicago-based "intelligent mobile-promotions platform," says Clutch chief executive Ned Moore in a statement.

Clutch won't say what it paid in the deal, which closed last month -- but noted it coincided with a new $5.25 million investment led by Larry Stone, a veteran payments industry executive who in 2014 sold Mercury Payment Systems to Vantiv, and who is a director of Bipin Shah's JetPay.

Persio, founded in 2012, should help Clutch boost its marketing sales to "automate mobile solutions to deliver shipping notices, rewards, coupons, brand messages," according to Clutch.

Moore said Stone and his money are "a great strategic fit for our business" and should help the company sell to point-of-sale and distribution clients. Persio boss Nick Doulas will be Head of Product for the combined companies.