MONTREAL -- Aeroplan operator Aimia Inc. (TSX: AIM) is buying Excellence In Motivation, a privately-owned U.S.-based business loyalty solutions provider, for about US$28 million.
Quebec-based Aimia, the company behind the well-known Canadian loyalty rewards program, said Tuesday that the acquisition is part of its global growth strategy that includes investing in complementary companies and expanding its presence in the U.S. market.
"The transaction will strengthen Aimia's presence in key vertical markets, including automotive, health-care, pharmaceutical, high tech and telecommunications," the company said in a release.
"EIM is a great addition to the Aimia family as we continue to look for opportunities to increase our presence in the U.S. market," added Rupert Duchesne, group chief executive of Aimia.
Founded in 1993, EIM provides technology solutions to help clients maximize productivity, reduce costs and increase employee engagement.
EIM, with more than 200 employees based in Dayton, Ohio, and Los Angeles, also specializes in sales and channel partner programs that have grown revenues and increased market share for clients.
"By joining the Aimia family, our clients will benefit from an expanded full suite of loyalty solution capabilities and increased sector-specific loyalty marketing expertise," said EIM president and CEO Bob Miller.
"We can also leverage Aimia's global footprint and capabilities to help our clients execute on a global scale," Miller said.
Aimia owns and operates Aeroplan in Canada and a loyalty program called Nectar in Britain. It also 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 U.S.-based private company operating in merchant-funded transaction-driven marketing for electronic banking.
