ST. PAUL, Minn., April 2, 2015 /PRNewswire/ -- Augeo announced today that it has completed the acquisition of RewardsNOW, one of the leading platforms serving bank, credit union and member-based loyalty programs in the U.S. and Internationally. This acquisition will expand Augeo's already significant position in the financial services arena. Combined, Augeo and RewardsNOW will support 900+ financial services programs, reaching over 9 million cardholders with over 33 billion loyalty points under management.
"RewardsNOW is a well-respected organization within our industry and we are thrilled to merge their technologies and teams with Augeo," commented David Kristal, Augeo CEO. "Together, Augeo and RNI will offer national, regional and local financial institutions an industry leading solution that delivers unsurpassed functionality and a great cardholder experience. We have made five other acquisitions in the past ten years – large and small – all of which have proven to be very successful for us. We have a great team and dedicate ourselves to our clients, delivering best in market strategies, functionality and strategic thinking – all devoted to our clients and their programmatic and financial goals."
"Augeo and RewardsNOW both focus on our clients first and recognize that our clients are in need of loyalty program innovation as their account holder base demands new features and relevancy," commented Steven L. Van Fleet, RewardsNOW CEO, who will become President of Augeo's Financial Services business unit with this transaction. "Being part of Augeo will allow for even faster innovation and more value for our current and future clients looking to increase account activation, transactions and overall spend."
Augeo and RewardsNOW products and services provide end to end loyalty and engagement solutions for banks, credit unions and service organizations including enterprise reward strategies, mobile redemption and unique gamification functionality deployed within our clients' programs. As part of this acquisition, Augeo gains a significant expansion to its current merchant offers platform, both in the U.S. and Internationally. This expansion will greatly increase the number of retailers providing discounts in the form of points and statement credits when cardholders use their financial institution card at participating locations.
RewardsNOW account teams will continue to operate out of the Dover, NH office and will receive support from Augeo's financial institution operations team in Naperville, IL.
Financial Technology Partners LP and FTP Securities LLC ("FT Partners") served as exclusive strategic and financial advisor to RewardsNOW and its Board of Directors in this transaction.
Augeo, founded in 1998, is a nationally recognized leader in engagement, loyalty and incentive platforms with a focus on developing new solutions and innovative technology for our clients and their customers. In addition to its financial institution loyalty business unit, Augeo operates separate business units in employee recognition, B2B and B2C loyalty, affinity insurances and discount networks, membership benefit solutions and agency/branding services. Augeo serves both domestic and international programs and currently supports 55 countries in 8 languages. Headquartered in St. Paul, MN, Augeo also has offices in Chicago, Naperville, New York, Long Island and Scottsdale, plus additional client representative offices across the U.S. Augeo has quietly been in fast growth mode for many years now, achieving a compounded annual growth rate of approximately 45% dating back to 2007.
For more information, visit augeomarketing.com.
Since 1997, RewardsNOW has provided the financial institution industry with comprehensive loyalty solutions that include a configurable web-based platform, marketing communications, analytics/ROI reporting, rewards catalog/fulfillment and 24/7/365 customer support. Additionally, RewardsNOW has expanded its services to include unique merchant funded rewards capabilities in the U.S. and Latin America. RewardsNOW is based in Dover, New Hampshire.
For more information, visit rewardsnow.com.