Points International to Acquire Assets of MilePoint

Thursday 11 March 2004 22:04 CET | News

Points International has entered into an agreement to acquire substantially all of the assets of MilePoint.

The purchase price is C$7.5 million to be satisfied through a combination of C$3.5 million in cash and four million common shares. Once the transaction closes, Points International will take another step forward in adding to its impressive partner base and the potential of both The Points Exchange and its broad portfolio of customer loyalty solutions. MilePoints current clients include long term relationships with Northwest Airlines, Delta Air Lines, and Starwood Hotels. Once the acquisition is completed and both companies offerings are combined, MilePoints partners will be able to participate in The Points Exchange and add their own loyalty currency to the sites growing list of more than 3,600 exchange options. Both MilePoints and Points Internationals partners will also be able to seamlessly implement any of the custom loyalty solutions offered by the two companies, including pointselite, a channel for consumers to purchase tiered frequent flier status online, and pointsclub, an online tool for selling and renewing airline lounge and private club memberships. Closing of the acquisition is subject to regulatory approval and customary closing conditions.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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