MONTREAL, July 25, 2016 /CNW Telbec/ - Aimia Inc. (TSX: AIM), the data-driven marketing and loyalty analytics company, said today that it has exited the card-linked marketing business it has built in the U.K. under its joint operation with Cardlytics for a non-cash consideration.
The business, built on the back of global commercial agreements signed in 2011, has transferred to Cardlytics. In return, Aimia received an undisclosed consideration in the form of convertible notes in Cardlytics Inc. Aimia also retains its investment in Cardlytics Inc.
This transaction will enable the Cardlytics business globally to operate under a single ownership structure, improving its speed to market for new products and strengthening the support it can offer clients.
"We are delighted to have successfully partnered with Cardlytics to grow this U.K. business from a standing start over the last five years," said Rupert Duchesne, Group Chief Executive, Aimia. "The maturity level of the business means it now makes sense for us to exit this joint operation to focus on our core assets, in line with our ongoing focus on simplifying the business and delivering long-term shareholder value."
Aimia continues to evaluate and consider further disposals of non-core investments and assets in 2016.
Aimia Inc. (TSX:AIM) is a data-driven marketing and loyalty analytics company. We provide our clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers.
With about 3,200 employees across 17 countries, Aimia partners with groups of companies (coalitions) and individual companies to help generate, collect and analyze customer data and build actionable insights.
We do this through our own coalition loyalty programs such as Aeroplan in Canada, Nectar in the U.K., and Air Miles Middle East, and through provision of loyalty strategy, program development, implementation and management services underpinned by leading products and technology platforms such as the Aimia Loyalty Platform and Smart Button, and through our analytics and insights business, including Intelligent Shopper Solutions. In other markets, we own stakes in loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group. Our clients are diverse, and we have industry-leading expertise in the fast-moving consumer goods, retail, financial services, and travel and airline industries globally to deliver against their unique needs.
For a full list of our partnerships and investments, and more information about Aimia, visit www.aimia.com.