Cherry Tree Advises Deluxe on the Sale of Deluxe Rewards to Augeo
Augeo Acquires Deluxe Rewards, Expanding Its Consumer Engagement Platform and Advancing Growth Initiatives
Augeo, a leader in consumer, member, and employee loyalty and engagement solutions, announced today that it has acquired Deluxe Rewards, formerly a business entity of Deluxe (NYSE: DLX), a Trusted Business Technology™ company.
The acquisition of Deluxe Rewards, primarily located in Boca Raton, Florida, is effective December 31, 2020, and brings to Augeo, a patented, dual-currency, loyalty and engagement technology powered by an expansive collection of premium retail goods and travel services. In addition, unique experiential rewards are available to end users at significantly reduced prices. The value to end users comes from these exclusive discounts, and Augeo can now offer clients a meaningful loyalty rewards program without the accrued liability that makes such programs cost prohibitive for some organizations.
“Often times, organizations are burdened by excessive, accrued liability in their loyalty rewards programs. The addition of Deluxe Rewards patented technology and experienced team enables Augeo to extend even greater value to current clients; all while bringing new engagement opportunities to organizations seeking alternatives to accruing the financial liability for their loyalty initiatives,” explained Tim Miller, President, Augeo Member Engagement and Benefits.
The acquisition is another indicator of Augeo’s focus on growth, both organically and through acquisition. “We believe that challenging times create unique opportunities for companies that are agile, innovative and well-grounded financially. Since our beginning, decades ago, we have grown our client base with exceptional performance and exemplary service. We continue to grow through the acquisition of companies that offer innovative technology, experienced teams, and established client relationships,” explained Augeo CEO, David Kristal.
This acquisition was attractive to Augeo because it presents a distinct marketplace opportunity. Deluxe Rewards enables Augeo to offer a one-of-a-kind, dual-currency redemption experience for users while delivering unmatched value for clients.
Shaina Resto, Product Strategy Leader for Deluxe Rewards, and now Senior Vice President of Consumer Engagement at Augeo, explained, “We are beyond excited to join the Augeo team. Both companies have extensive experience in managing loyalty and engagement rewards programs. By combining our products and services into a seamless client experience, we can extend innovative features to all our programs. Clients will benefit from increased efficiency and users will benefit from increased redemption options.”
“A primary driver of our interest in Deluxe Rewards was a need to provide greater value to users during challenging times,” said Miller. “We believe that for years to come, consumer loyalty and engagement will be driven by value-rich offers and a flexible, responsive platform. The proprietary, ultra-efficient, dual-currency redemption technology that Deluxe Rewards brings to Augeo enables us to evolve our platform, continuing to deliver a best-in-class loyalty engagement experience.”
Augeo is a global leader in enterprise engagement and loyalty platforms. We help clients build value by strengthening relationships with their employees, customers, members or channel partners. Our unique consumer loyalty, employee recognition, sales incentives, virtual and live meetings, and insurance and benefits solutions help organizations elevate engagement and accelerate success. With more than 40 years of experience, Augeo serves 52 Fortune 500 companies, among hundreds of others, and supports hundreds of programs worldwide with proven platform technology. For more information, visit www.augeomarketing.com.
Deluxe is a Trusted Business Technology™ company that champions business so communities thrive. Our solutions help businesses pay and get paid, accelerate growth, and operate more efficiently. For more than 100 years, we’ve been helping businesses succeed at all stages of their lifecycle, from start-up to maturity. Our powerful global scale supporting approximately 4.5 million small businesses, over 4,000 financial institutions, hundreds of the world’s largest consumer brands and processing more than $2.8 trillion in annual payment volume, positions Deluxe to be our customers’ most-trusted business partner. To learn how we can help your business, visit us at www.deluxe.com, www.facebook.com/deluxecorp, www.linkedin.com/company/deluxe, or www.twitter.com/deluxecorp.
Cautionary note regarding forward-looking statements.
This announcement includes forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Such statements are based on current expectations, and actual results may differ materially. The forward-looking statements in this announcement are subject to a number of risks and uncertainties including, but not limited to, the possibility of continuing operating losses, the ability to adapt to rapid technological change, cost and difficulties we may face in integrating the businesses of XATA and GeoLogic Solutions, dependence on positioning systems and communication networks owned and controlled by others, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products, the ability to fund future research and development activities, the ability to establish and maintain strategic partner relationships, and the other factors discussed under “Risk Factors” in Part IA, Item 1 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2008 (as updated in our subsequent reports filed with the SEC). These reports are available under the “Investors” section of our Web site at www.xata.com and through the SEC Web site at www.sec.gov. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.