Aimia withdraws from UK joint venture
Montreal-based loyalty program company Aimia has divested itself of its share of the joint operation it owned with Cardlytics in the United Kingdom. The card-linked marketing business was founded by the two companies in 2011. Aimia has transferred its stake in the operation to Cardlytics for an undisclosed number of Cardlytics convertible notes. Aimia also retains its investment in the UK company.
"We are delighted to have successfully partnered with Cardlytics to grow this UK business from a standing start over the last five years," said Rupert Duchesne, group chief executive at Aimia. "The maturity level of the business means it now makes sense for us to exit this joint operation to focus on our core assets, in line with our ongoing focus on simplifying the business and delivering long-term shareholder value."
In related news, Aimia has signed a multi-year contract with Aeon Retail of Japan. Aeon will make use of Aimia's "Self Serve" consumer analytics program in its chain of hypermarkets in Japan and Malaysia. Aimia will also use the contract as a base from which to expand its presence in the Asia Pacific region.
"To work with Japan's largest retailer group is an excellent opportunity for Aimia," said David Johnston, group chief operating officer at Aimia. "Aeon will be the biggest retailer group to use our world-class technology, which is testament to its scale, depth and capability. Members of Aimia's insights and analytics teams are on the ground working with Aeon Retail to embed Self Serve."