Affinion Group Completes Acquisition of Webloyalty
Affinion Group (“Affinion”), a global leader in customer engagement / customer loyalty solutions that enhance and extend the relationship of millions of consumers of financial service, retailing, hospitality and e-commerce companies with revenues of more than $1.3 billion, has completed an acquisition of Webloyalty, a global leader in generating incremental revenue for online businesses through a comprehensive suite of proprietary tools and technologies connects partners to new customers, minimizes cart abandonment, offers extra value after the transaction and builds repeat business.
As a result of the merger Affinion indirectly acquired all of the capital stock of Webloyalty, as well as the interest of security holders of Webloyalty. Just prior to the January 14th merger, the interest of security holders of Webloyalty were converted into Affinion’s parent, Affinion Group Holdings, Inc. (“Holdings”) securities, as follows:
- Webloyalty’s shares of common stock, PV $.01 per share, were converted into shares of Holding’s common stock (same PV).
- Under Webloyalty’s equity plan (vested or unvested), options to purchase Webloyalty’s common stock were converted to options to purchase Holdings’ common stock.
- Warrants to purchase shares of Webloyalty Common Stock were converted into warrants to purchase Holding’s xommon stock.
As a results of the merger, Affinion’s parent and existing management investors collectively own approximately 70.4% of Holdings’ issued and outstanding Common Stock.
Affinion has not yet issued a release on the acquisition.
Details from the Form 8-L for Affinion Group can be found here.
About Affinion Group
As a global leader with more than 35 years of experience, Affinion Group enhances the value of its partners’ customer relationships by developing and marketing loyalty solutions. Leveraging its expertise in customer engagement, product development and targeted marketing, Affinion provides programs in subscription-based lifestyle services, personal protection, insurance and other areas to help generate increased customer loyalty and significant incremental revenue for more than 5,500 marketing partners worldwide, including many of the largest and most respected companies in financial services, retail, travel, and Internet commerce. Based in Stamford, Conn., the Company has approximately 4,000 employees throughout the United States and in 12 other countries, primarily in Europe, and markets in 15 countries globally. Affinion holds the prestigious ISO 27001 certification for the highest information security practices, is PCI compliant and Cybertrust certified.
About Webloyalty
Webloyalty.com, a leading provider of incremental revenue for online businesses, has more than two million memberships in its reward, discount and protection programs, including Reservation Rewards and Shopper Discounts & Rewards. Members benefit from high-value subscription services that match their needs and interests. Webloyalty clients – more than 150 e-commerce, e-subscription and e-travel sites – benefit from increased revenue and repeat purchases.