American Express Completes Acquisition of Loyalty Partner
NEW YORK, ---
American Express Company today announced that it has completed the acquisition of Loyalty Partner, a leading marketing services company best known for the loyalty program it operates in Germany, Poland and India.
The acquisition will deepen American Express’ merchant relationships in select international markets, add more than 34 million consumers to the company’s international customer base and expand its range of rewards and loyalty marketing services.
American Express paid approximately €425 (US $585) million cash for the acquisition. An additional €73 (US $100) million equity interest will be held by Loyalty Partner’s management, valuing the company at €498 (US $685) million.
Loyalty Partner is now a subsidiary of American Express and will be part of the company’s International Consumer and Small Business Services group, led by its President, Douglas Buckminster. Alexander Rittweger will continue as Chief Executive Officer of Loyalty Partner.
About Loyalty Partner
Launched in 1998, Loyalty Partner offers expertise in all aspects of customer management, with more than 34 million cardholders and hundreds of partner companies across Germany, Poland and India. The company operates three subsidiaries including: Payback, the leading multi-partner loyalty program designed to deliver value to consumers and generate additional revenue for partner companies; Emnos, a specialist in-sight-based marketing consultancy for the retail sector and Loyalty Partner Solutions, an information technology service provider that develops customized loyalty programs for companies. For more information, visit www.loyaltypartner.com.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com
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