Puts iPhone App GroceryIQ In Its Shopping Cart

This is turning out to become quite the trend.

Yesterday, we reported that the MindMaker iPhone application was acquired, and today we learn that Coupons Inc has acquired one of the most popular lifestyle programs for the iPhone / iPod Touch, Grocery iQ (link to iTunes App Store).

Grocery iQ is a neat grocery shopping application published by Free State Labs that comes preloaded with a database over 130,000 items commonly found in supermarkets across the U.S., enabling users to search them and organize personal shopping lists by store, aisle, buying history, favorites, as well as customizing item sizes.

The application also lets you store your favorite items and shopping history. Its current list price on the iTunes App Store is $0.99 and the app is ranked #1 in the ‘Lifestyle’ category with an average rating of 3.5 stars and over 700 reviews.

Coupons Inc in turn operates, a digital coupon platform that attracts about a dozen million unique visitors a month, and aims to complement that business with a mobile service.

The idea behind the acquisition, for which no specific deal terms were disclosed, is for to be able to match personal grocery lists generated with Grocery iQ with relevant, targeted coupons and offer multiple ways for consumers to redeem them straight from their mobile phone.

In short, an acquisition that makes perfect business sense (more like a no-brainer actually) and another boost for the iPhone and its application platform.