Toronto-based Givex has acquired Loyalty Lane, an online transaction processing and customer relationship management (CRM) marketing services firm.
Givex, whose shares are listed on the Toronto Stock Exchange, said the addition of Loyalty Lane supports Givex’s expansion into the grocery, convenience store, fuel pump, and consumer channels in the United States and Canada.
Launched over two decades ago, Givex provides restaurant and retail industries with POS solutions, management systems, gift cards, loyalty programs, and analytics. The firm claims its offering is used at around 96,000 locations across more than 100 countries.
“Givex is … excited to offer additional services to the 11 million plus consumers Loyalty Lane currently serves.”
– Don Gray
Don Gray, CEO of Givex, said the company’s integration of Loyalty Lane “will increase overall merchant locations, revenue and EBITDA but more importantly provide a CRM solution for grocery that Givex does not have today.”
“Givex is also excited to offer additional services to the 11 million plus consumers Loyalty Lane currently serves,” he added.
Included in the Givex-Loyalty Lane deal is the acquisition of the latter’s two subsidiaries: Electronic Scrip, a platform which allows over five million registered consumers to direct their donations through a participating merchant, school, or charity; and Media Solutions Company, a provider of digital marketing services.
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Loyalty Lane claims its main operating company and subsidiaries ended last year with annualized, unaudited revenue of over $4.5 million USD.
Founded 15 years ago, Georgia-based Loyalty Lane is an online transaction processing and CRM marketing services firm for the retail industry. Loyalty Lane’s SaaS-based offering is designed to help retailers enhance customer loyalty by capturing point of sale data and giving shoppers “rewards” for points or other promotions while still in the checkout lane.
Prior to Loyalty Lane, Givex acquired IT service and consulting company Kalex in January, Givex also gained an office in Europe last year through its purchase of Pi Cashe System, a Swiss provider of point of sale systems, automatic coin changers, and badge loading terminals.
Feature image from Pixabay