cxLoyalty Group Holdings, Inc. (“cxLoyalty Group Holdings”) today announced that it has entered into a definitive agreement to sell its Global Loyalty division (“cxLoyalty”) to JPMorgan Chase & Co. (NYSE: JPM) (“JPMC”). The deal includes cxLoyalty’s leading technology platforms, full service travel agency, gift card, merchandise, and points bank businesses. cxLoyalty will operate as a business unit within JPMC. The transaction excludes cxLoyalty Group Holdings’ Global Customer Engagement division and other ongoing businesses (collectively “the Global Customer Engagement Division”).
As a result of this transaction, each of cxLoyalty and the Global Customer Engagement Division, will focus on their respective market opportunities with dedicated teams and resources, enabling new avenues for growth and success. Under its new ownership, cxLoyalty will drive even greater investments in its technology, content and servicing solutions to benefit its clients and the customer experience. The Global Customer Engagement Division expects to use proceeds from the sale to meaningfully strengthen its balance sheet, enabling further investment in customer and content intelligence to deliver differentiated personalized solutions.
https://www.martechcube.com/cxloyalty-inc-announces-sale-of-its-global-loyalty-division/
