Givex Information Technology Group Limited. (“Givex”) (TSX: GIVX) has completed the purchase of all of the outstanding shares of Loyalty Lane, Inc. (“Loyalty Lane”).
Loyalty Lane is a 15-year-old marketing technology company providing a robust customer relationship management (“CRM”) solution to independent grocers throughout the United States. Loyalty Lane serves over 2,000 grocers representing 14,000 check out lanes and fuel pumps, in addition to over 6 million registered consumers that can redeem both digital and traditional rewards and discounts in-store or online. Loyalty Lane provides Givex with a unique opportunity to expand its platform services into the grocery, convenience store, fuel pump and consumer channels in the USA and Canada.
Electronic Scrip Incorporated (“ESI”) , a subsidiary of Loyalty Lane, focuses on charitable giving with over 53,000 charities. These are supported by 5 million registered consumers who can direct their donations through a participating merchant to a specific school or charity. Since its founding, ESI has raised over $450 million for charities. Givex will be upgrading and adding to this service to more effectively support this viable asset.
Media Solutions Company (“MSC”) , also a subsidiary of Loyalty Lane, has a 12-year history of specializing in templated offer websites, mobile apps, email and texting services as well as microsites and digital signage for small to medium grocers and convenience stores. MSC template technology gives Loyalty Lane and other merchants the ability to deliver offers on websites, phones and other digital media to Loyalty Lane registered consumers at a competitive price. MSC was a partner to Loyalty Lane for many years and was acquired to bring this functionality in-house.
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Loyalty Lane and its subsidiaries ended 2021 with annualized, unaudited revenue of over US$4.5 million.
“The acquisition 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,” said Don Gray, CEO of Givex.
“Loyalty Lane and Givex already have common clients and there is a tremendous opportunity for both companies to combine technologies, support services and development that will enable all services to eventually operate on one common platform,” said Bill Gray, President of Loyalty Lane.
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