Indian customer loyalty and engagement tech company Capillary Technologies has paid an undisclosed sum to acquire the Digital Connect assets of US-based loyalty program company Tenerity.
Digital Connect is a loyalty and rewards platform that enables companies to engage their customers with intelligence-based offers, in a bid to make their brand memorable and generate incremental revenue. The company now joins Capillary, which has a presence across the US, India, the Middle East and Asia, from where it powers more than 100 loyalty programs across over 30 countries.
As part of the acquisition, Digital Connect will be renamed Rewards+, and will become the fourth product on the Capillary platform alongside Loyalty+, Engage+ and Insights+; offering consulting, loyalty program design, analytics, full rewards network and marketing communications. Digital Connect's team is based out of the US, the UK and India, and in the US its team will join Capillary's previous acquisitions of Persuade (2021) and Brierley+Partners (this April).
Aneesh Reddy (pictured), Capillary's founder and MD, comments: 'After ten years of robust growth in Asia, Capillary's global expansion has now entered a full-throttle phase. Digital Connect's specialized focus on the banking, financial services and insurance/telecom industries will accelerate our entry into a new vertical. We are delighted to welcome Digital Connect onboard and embark on a collective journey of transformation and growth'.
The firm, which earlier this month raised $45m in a Series D round of funding, is online at www.capillarytech.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.