Aimia to Sell Half its Stake in Cardlytics

Montreal, Quebec-based loyalty analytics specialist Aimia is to sell approximately half its investment in purchase intelligence platform Cardlytics for $CAN 59.8m ($US 44.9m).

Cardlytics' platform enables banks to deliver relevant rewards to their customers based on individual purchasing history. It can also be used to find and target consumers who are already spending with competitors; send existing customers new offers; target consumers based on zip code, store name or purchase frequency; and track both online and in-store purchases to measure results and optimize offers.

In 2011, Aimia (previously known as Groupe Aeroplan) led a $33m investment in Cardlytics. Aimia has now sold 1.5 million Cardlytics shares, retaining around 1.48m. In a statement, the firm said it will continue to evaluate its remaining investment in Cardlytics against its strategy as a 'consolidator' in the loyalty and travel space, as well as its capital allocation priorities.

Aimia's businesses include Aeroplan in Canada and Air Miles Middle East, with stakes in loyalty programs such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group. In February last year, it sold its Nectar loyalty program and related assets to supermarket giant J Sainsbury plc for approximately $105m; then at the end of the year, it agreed to sell its Aeroplan business to a consortium led by the business's original owner, Air Canada, for $450m.

The company, which is led by CEO Jeremy Rabe (pictured) is online at www.aimia.com and Cardlytics is on the web at www.cardlytics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.