Augeo Acquires Deluxe Rewards, Expanding Its Consumer Engagement Platform and Advancing Growth Initiatives
Augeo has acquired Deluxe Rewards, previously part of Deluxe (NYSE: DLX), effective December 31, 2020. This acquisition enhances Augeo's loyalty and engagement solutions by integrating a patented, dual-currency technology and a variety of premium rewards. The move is seen as a strategic growth initiative for Augeo, allowing them to offer value-rich loyalty programs without the excessive liabilities typically associated with such services. Augeo aims to leverage this acquisition to enhance user engagement and streamline client experiences.
- Acquisition of Deluxe Rewards expands Augeo's loyalty technology, enhancing consumer engagement.
- Introducing a dual-currency redemption system provides unmatched value to clients.
- Reduces accrued liability for organizations implementing loyalty programs.
- Enhances user experience with increased redemption options, improving client satisfaction.
- None.
ST. PAUL, Minn., Jan. 5, 2021 /PRNewswire/ -- 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."
About Augeo
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.
About Deluxe
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
Media Contact:
Michael Walsh
612-718-8952
michael@michaelwalshcommunications.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/augeo-acquires-deluxe-rewards-expanding-its-consumer-engagement-platform-and-advancing-growth-initiatives-301200651.html
SOURCE Augeo
FAQ
What technology does Deluxe Rewards provide to Augeo?
When was the acquisition of Deluxe Rewards finalized?
How will the acquisition affect Deluxe's stock symbol, DLX?
What is the strategic significance of acquiring Deluxe Rewards for Augeo?
