AmEx to Buy Marketer for Up to $660 Million

by Mercator Advisory Group 0

American Express has announced its purchase of loyalty and digital marketing firm Loyalty Partner In Germany.

The credit card company and transaction processor said on Thursday it will gain more than 34 million new customers and expand its high-profile rewards program with the deal.

Loyalty Partner sells rewards programs to consumers and merchants in Germany

, Poland and India. It also offers consulting and analysis programs for merchants.

In addition to a new revenue stream, the company is expected to support American Express’ initiatives in “mobile payments and digital marketing services,” according to Visa Chairman Ed Gilligan.

Read press release: http://feeds.reuters.com/~r/reuters/dealsNews/~3/vf5YU-4vLrE/idUSTRE6BF2BP20101216