Affinion Group Extends Travel and Loyalty Platforms with Agreement to Acquire Connexions Loyalty Travel Solutions

STAMFORD, Conn., May 21 /PRNewswire/ -- As previously announced, Affinion Group ("Affinion"), a global leader in customer engagement and loyalty solutions that enhance and extend the relationships of millions of customers with many of the largest and most respected companies in the world, has announced it has signed an agreement to acquire Connexions Loyalty Travel Solutions ("Connexions"), a leading provider of travel solutions for loyalty programs. The acquisition will join two of the most respected companies in the loyalty and rewards industries.

Through the acquisition of Connexions and its innovative travel platform, Affinion will advance its own leading loyalty and travel product offerings with functionality that rivals the top online travel agencies that currently lead the reservations market. The transaction is expected to enhance established relationships with some of the world's most recognized brands that employ points and travel as rewards for customer loyalty.

Following the close of the transaction, the benefits of this acquisition to clients will be recognized quickly as the two companies approach the loyalty and travel marketplace with an aligned mindset and a common strategic focus, which is expected to expedite the process of integrating Connexions' travel technology into Affinion's programs and solutions.  

"Between our two companies, we have invested more than 40 years developing solutions to enrich the loyalty experience for consumers," said Nathaniel J. Lipman, Chairman and Chief Executive Officer of Affinion Group. "By combining our technology platforms, we'll be able to provide the most feature rich product set in the loyalty marketplace."

"The Connexions' product portfolio provides clients with differentiated solutions and consumers with easy-to-use features," said Steve Upshaw, President of Affinion Group.  "We are impressed with Connexions' management team and what they've accomplished in the loyalty and travel marketplaces, and are excited about the prospects of what we can accomplish together."

Point redemptions activity indicates that travel remains one of the most customer-engaging rewards in loyalty programs, and Affinion's enhanced travel offering will benefit its clients through fully customized feature sets offering a vast array of configurations. Additionally, the integrated technology platform will extend Affinion's ability to incorporate emerging marketplace trends within its travel offering, as well as provide dynamic promotions to increase traveler value to clients.  

Affinion believes that the expected benefits from this acquisition are not just limited to clients: consumers will enjoy access to a more robust product line including no restrictions on travel offers, and flexibility of multi-tender functionality spanning a greater number of travel products.

"The management teams of Connexions and Affinion have nearly one hundred years of combined experience in travel and loyalty," said Eric Burdon, President of Connexions Loyalty Travel Services. "Coupled with the extensive resources and partnerships of Affinion, we'll leverage that experience to add to an industry leading technology platform, enhance existing partnerships and establish new partnerships that will help us grow considerably."

Affinion expects seamless integration of Connexions' travel technology into its business framework shortly after the acquisition has been completed.

About Affinion Group

As a global leader with more than 35 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 5,500 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 3,600 employees throughout the United States and in 12 other countries, primarily in Europe, and markets in 15 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.

About Connexions® Loyalty Travel Solutions

Connexions Loyalty Travel Solutions is the largest U.S. based provider of travel solutions for loyalty programs; we have strong support from travel industry suppliers, large economies of scale, and a focus on quality service delivery. As part of a $6 billion travel sales organization, we leverage the knowledge, supply, and technologies developed for multiple verticals. COPC certified and supported by six sigma process management to create market leading solutions for our clients. Solutions include unique travel products, creative redemption solutions, multi-point bank connectivity. From Graham Leach Bliley to PCI certification we safely manage your security needs at our contact centers, and market leading online travel redemption solutions.

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 2010, the consummation of the acquisition of Connexions 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.

SOURCE Affinion Group, Inc.