Aimia and Points.com Enter China with Co-Investment in Loyalty Start-up Partnered with One of the World's Largest Payment Card Issuers
(Canada Newswire Via Acquire Media NewsEdge) Focused on the Long-Term Market Opportunity, Aimia and Points.com Make
Minority Co-Investment in China Rewards, a New Loyalty Program
Partnered with China Union Pay
TORONTO, Nov. 7, 2012 /CNW Telbec/ - Aimia Inc. (TSX: AIM) and Points
International Ltd. (TSX: PTS; NASDAQ: PCOM), owner and operator of the
loyalty commerce platform www.Points.com, have entered into a binding agreement to make a minority investment in
China Rewards, a Shanghai based retail coalition loyalty program
start-up. Under the terms of the agreement, Aimia and Points.com will
each be investing up to US$5 million upon achievement of certain
performance milestones and subject to regulatory approvals.
"Entering what is soon to be the world's largest economy has been a
strategic growth imperative for Aimia," commented Rupert Duchesne,
Aimia's Group Chief Executive, "As part of our stringent due diligence
we have evaluated the key points of entry into China, seeking the right
caliber of partner as well as a high return investment with minimal
risk- China Rewards fit all of the criteria."
A key element of the China Rewards program is a long-term agreement with
anchor partner, China Union Pay, one of the world's largest network
Points' CEO Rob MacLean said "The Chinese loyalty industry is still in
its early stages and we are excited to be involved in China Rewards.
This strategic relationship will offer an immediate and credible
presence and allow us to more quickly and efficiently establish our
business in the important and rapidly growing Chinese market."
Mr. MacLean added "China Union Pay has unprecedented scale in the
Chinese retail industry with a rapidly growing international reach.
The ability to leverage this infrastructure and brand to quickly build
a large, national loyalty program is a unique and remarkable
China Rewards CEO, Cindy Wu has been doing business in China for more
than 20 years and is a veteran of the retail loyalty industry. "We are
very excited to be partnering with global leaders, Aimia and
Points.com. Their experience in the loyalty space is a valuable and
important part of China Rewards' growth plans," said Ms. Wu.
In connection with this transaction, CIBC acted as financial advisor.
About Aimia Inc.
Aimia Inc. ("Aimia") is a global leader in loyalty
management. Aimia's unique capabilities include proven expertise in
delivering proprietary loyalty services, launching and managing
coalition loyalty programs, creating value through loyalty analytics
and driving innovation in the emerging digital and mobile
spaces. Aimia owns and operates Aeroplan, Canada's premier coalition
loyalty program and Nectar, the United Kingdom's largest coalition
loyalty program. In addition, Aimia has majority equity positions in
Air Miles Middle East and Nectar Italia as well as a minority position
in Club Premier, Mexico's leading coalition loyalty program and
Cardlytics, a US-based private company operating in merchant-funded
transaction-driven marketing for electronic banking.
Aimia is a Canadian public company listed on the Toronto Stock
Exchange (TSX: AIM) and has over 3,400 employees in more than 20
countries around the world. For more information about Aimia, please
Follow us on Twitter: http://twitter.com/#!/aimiainc.
About Points International Ltd.
Points International Ltd. (TSX:PTS) (Nasdaq:PCOM), is the owner and operator of Points.com,
the global leader in reward currency management providing multiple
eCommerce and technology solutions to the world's top loyalty brands.
Points.com also manages the largest consumer rewards management
platform, allowing more than 3 million users to trade, track, exchange,
and redeem their loyalty points, miles, and rewards.
Recently, Points International was the recipient of several prestigious awards; the Company was named
the 5th largest Canadian software company and the 40th largest Canadian
technology company by the 2012 Branham300 list as well as ranked 40th by PROFIT Magazine's top 200 Canadian companies by five-year revenue growth for 2012.
Points.com's solutions enable the management and monetization of loyalty
currencies, including frequent flyer miles, hotel points, retailer
rewards and credit card points, as well as enhancing loyalty program
consumer offerings and back-end operations for more than 40 partners
worldwide. Further, Points.com's SaaS products allow eCommerce
merchants to add loyalty solutions to their online stores and reward
customers for purchases.
For more information on Points.com, visit www.pointsinternational.com, follow us on Twitter (@pointsadvisor), fan us on Facebook (www.facebook.com/pointsfans or read our blog http://blog.points.com).
Note: Points International will be further discussing the China Rewards
investment on their upcoming earnings call today at 5 PM ET. To
participate in the conference call, investors from the U.S. and Canada
should dial (877) 407-0789 ten minutes prior to the scheduled start
time. International callers should dial (201) 689-8562.
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