Aimia, a global leader in loyalty management headquartered in Canada and Multiplus, Brazil's leading loyalty network, announced on November 8, 2011 that they had entered into an agreement pursuant to which they would join forces to create a new loyalty marketing services company in Brazil. The launch of the new business was subject to approval from Brazilian anti-trust authorities (the Conselho Administrativo de Defesa Econômica, or CADE).
Aimia and Multiplus are pleased to announce that the joint venture between the two companies today received regulatory approval from CADE. With this milestone, all the relevant steps have been completed, paving the way for the joint venture to commence operations in 2012.
"Clearing this regulatory hurdle allows us to focus on the business" said Aimia Group Chief executive, Rupert Duchesne, "Leveraging Aimia's full-suite loyalty capabilities with such a strong local partner as Multiplus provides another major proof-point of the success of our global expansion strategy."
"We have been waiting for this decision. Now that the regulatory formalities have been fulfilled, we look forward to creating, together with Aimia, Brazil's future leader in the loyalty services industry." said Multiplus Chief Executive Officer, Eduardo Gouveia. "We are now ready to execute on our strategy and offer our clients unparalleled loyalty services."
The joint venture, which is owned in equal share participations by each of the parties, will focus on the design, development, management of, and value creation from data analytics and insight for third party loyalty and incentive programs.
About Aimia
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 visit www.aimia.com.
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About Multiplus
Multiplus (BM&FBOVESPA : MPLU3) is a loyalty coalition network and was created in June 2009 as a business unit of the TAM Airlines group. In October 2009, the company, which was legally established as an independent operation, went public in February 2010 and is listed on Brazil's stock exchange market 'BM&FBOVESPA'. As of today, Multiplus is a subsidiary of TAM SA (BM&FBOVESPA:TAMM4 / NYSE:TAM), which currently holds 73.14% of its shares.
By connecting different companies and loyalty programs, Multiplus allows its members to accrue and redeem points in several different market segments. Today, it consists of more than 200 commercial partners connecting approximately 10 million members (1Q12) and it is possible to earn Multiplus points directly or indirectly (by transferring from a partner's loyalty program) in more than 12,500 merchant locations and redeem those points for more than 50,000 options of products and services.
Multiplus' strategic partnerships include several major companies such as TAM Airlines, TAM Viagens (tour operator), Ipiranga (gas stations), Livraria Cultura (bookstore), Accor and Hilton (hospitality), Oi (telecom), Editora Globo (publisher), SKY (pay-TV), Luigi Bertolli, Cori and Emme (apparel), Microlins, Wizard, XPe and Central de Intercambio (education), Drogaria Rosário, Extrafarma, Droga Raia, Panvel (drugstores), BM&FBOVESPA (stock exchange), Novapontocom (e-commerce), Dell Anno, Favorita and New (furniture), Icatu Seguros (insurance), Ofertas.com.br and Groupon (collective buying), Movida and Lokamig (car rental), Chic Outlet (Shopping Centers) and Espaço Laser (Beauty and Healthcare).
For more information about Multiplus, please visit www.multiplusfidelidade.com.br.