NORWALK, Conn., January 7, 2010 - Affinion Group, Inc., a global leader in customer engagement solutions that enhance and extend the relationship and loyalty of millions of consumers, announced today the closing of its acquisition of an Italian relationship marketing solutions company from a leading Italian banking group. Terms of the agreement were not disclosed.
The acquired company manages marketing solutions that increase loyalty and broaden the customer base of the banking group’s checking account business. Affinion’s acquisition launches a long-term strategic partnership with the banking group - one of the largest in Italy - that will deliver an even more extensive portfolio of personalized, high value products and services to its customers.
“Affinion’s world class product portfolio and unparalleled marketing capabilities will now be combined with extensive experience in the Italian financial industry, enabling us to quickly and effectively reach both existing and new customers with a broader set of customized offerings,” said Guillaume Huser, Affinion International Regional President, Western Europe.
“Today’s acquisition strengthens Affinion’s position as Europe’s largest and most diverse engagement solutions provider and further builds upon our fast-growing consumer engagement and loyalty programs,” said Steve Upshaw, Chief Executive Officer of Affinion International. “Affinion International’s customer engagement programs currently serve more than 18 million customers in 12 countries.”
About Affinion Group
As a global leader with 40 years of experience, Affinion Group enhances the value of its partners’ customer relationships by developing and marketing loyalty solutions. Leveraging its expertise in customer engagement, product development and targeted marketing, Affinion provides programs in subscription-based lifestyle services, personal protection, insurance and other areas to help generate increased customer loyalty and significant incremental revenue for more than 5,740 marketing partners worldwide, including many of the largest and most respected companies in financial services, retail, travel, and Internet commerce. Based in Stamford, Conn., the Company has approximately 4,300 employees and has marketing capabilities in 19 countries globally. Affinion holds the prestigious ISO 27001 certification for the highest information security practices, is PCI compliant and Cybertrust certified. For more information, visit www.affinion.com.
Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions regarding industry outlook, Affinion's expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2011, the consummation of the acquisition of Prospectiv and the impact to Affinion's business and the other non-historical statements in the discussion and analysis. These statements can be identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "continues," "estimates," "predicts," "projects," "forecasts," and similar expressions. All forward-looking statements are based on management's current expectations and beliefs only as of the date of this press release and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks related to general economic and business conditions and international and geopolitical events, a downturn in the credit card industry or changes in the techniques of credit card issuers, industry trends, foreign currency exchange rates, the effects of a decline in travel on the Company's travel fulfillment business, termination or expiration of one or more agreements with its marketing partners or a reduction of the marketing of its services by one or more of its marketing partners, the Company's substantial leverage, restrictions contained in its debt agreements, its inability to compete effectively, and other risks identified and discussed from time to time in Affinion's reports filed with the SEC, including Affinion's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Readers are strongly encouraged to review carefully the full cautionary statements described in these reports. Except as required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements to reflect events or circumstances after the date of this press release, or to reflect the occurrence of unanticipated events or circumstances.