Affinion Continues Geographic Expansion With Acquisition In Turkey
Enters Agreement with Boyner Group to Extend Reach of Leading Concierge Services
STAMFORD, Conn., Nov. 26, 2012 /PRNewswire/ -- Affinion Group, Inc. ("Affinion" or "the Company"), the global leader in enabling companies to connect and engage with their customers, thereby creating rewarding relationships and enhancing brand loyalty, announced today that it has further extended its geographic reach in Europe with the acquisition of a majority stake in Back-Up, a leading concierge service. Affinion has accelerated its entry into this attractive, fast-growing market through the formation of a partnership with Boyner Holding Company, one of the most respected and successful brands currently serving Turkish consumers.
Under the terms of this agreement, Affinion will leverage its experience and success in marketing relevant services to consumers through a variety of direct response media on a global scale with Boyner Holding's world-class customer servicing principles to jointly market Back-Up, the leading concierge and assistance company in Turkey. Though the financial terms of this agreement were not disclosed, the partnership is expected to expand the addressable market for the distribution of Back-Up. Turkey has one of the largest populations in Europe with nearly 80 million consumers.
Founded by Boyner Holding more than 10 years ago, Back-Up is a leader in connecting customers and corporations with a wide range of preferred suppliers through its network boasting a variety of industries. From roadside assistance to travel bookings, medical check-ups to ambulance services, Back-Up offers services that are available on a 24 by 7 basis and simplify virtually any moment of life. The long term agreement between Affinion and Boyner Group ensures that both parties will maintain a high level of engagement to expand Back-Up's core business.
"As measured by GDP, Turkey is one of the largest countries in Europe where we lacked a presence, and we believe this acquisition allows us to enter this highly desirable market quickly and efficiently by leveraging the strong brand recognition Back-Up has already established," remarked Todd Siegel, Chief Executive Officer of Affinion Group. "We see significant parallels between the product suite offered by Back-Up with many of the benefits we've successfully marketed in the US and Europe, and we believe that our established marketing techniques will help us to grow market share for Back-Up."
Affinion's decision to enter Turkey follows the Company's previous expansion into Brazil in 2011, the Finnish market in 2010 and the Spanish market in 2009. For more information, visit www.affinion.com or www.backup.com.tr
About Affinion Group
As a global leader with almost 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 5,570 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 4,500 employees and has marketing capabilities in 18 countries globally. Affinion holds the prestigious ISO 27001 certification for the highest information security practices, is PCI Level 1 compliant and Cybertrust certified. For more information, visit www.affinion.com.
SOURCE Affinion Group, Inc.
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