Points International Acquires Travel Booking Service to Showcase Additional Loyalty Commerce Platform Offerings
Popular Online Travel Service PointsHound Added to the Points Open Platform Initiative
Points (TSX:PTS) (Nasdaq:PCOM), the global leader in loyalty currency management, today announced that it has purchased all of the outstanding shares of Accruity Inc., the San Francisco-based operator of the award-winning PointsHound hotel booking service.
This acquisition is a unique opportunity for Points to continue to bring new and innovative ideas not only to our Loyalty Program partners but also to the broader loyalty industry. The PointsHound Team has earned an excellent reputation in the Loyalty and Travel industries by developing leading-edge technology, strong loyalty program relationships, and impressive consumer adoption, all within a very short time frame. As we continue to expand the reach of our Loyalty Commerce Platform, we see great opportunities to enable valuable new offerings such as the PointsHound proposition to a wider audience of Loyalty Programs and their millions of consumers worldwide.
PointsHound is a loyalty-based, points-centric booking engine designed for frequent travelers. PointsHound users gain access to a growing roster of loyalty rewards currencies by booking with one of over 150,000 hotels around the world, and in return, earn points and miles in the loyalty currency of their choice. Launched publicly in early 2013 with the backing of leading online travel veterans, PointsHound is the first e-commerce business to address the complexity of the current loyalty landscape: offering frequent travelers the flexibility to choose where they earn, what they earn, and how they earn in a simple and intuitive user interface.
At its core, the PointsHound proposition was designed to drive incremental revenue to Loyalty Programs while offering unprecedented value to loyalty program members. We are thrilled to be joining the clear industry leaders to not only build on our early traction in travel e-commerce but to also help accelerate their expansion into new verticals where we can deliver even greater consumer and program value on a significantly broader scale.
MacLean continued, "Given the early stage of Accruity, we do not expect a material impact to our 2014 financial results, and anticipate only a slight increase to our ongoing operating expense structure. However, the value to Points in this acquisition is multifold: a great team with strong consumer, online travel and loyalty experience; a California presence that we intend to build upon; and a number of loyalty program relationships new to Points that we intend to expand. We are very pleased to add this key ingredient to our overall offering and we expect that our new west coast team will become important contributors to the continued progress on our Loyalty Commerce Platform and our efforts to open up third-party access."
Points, publicly traded as Points International Ltd. (TSX:PTS)(Nasdaq:PCOM), provides loyalty eCommerce and technology solutions to the world's top brands to power innovative services that drive increased loyalty program revenue and member engagement. With a growing network of over 50 global loyalty programs integrated into its unique Loyalty Commerce Platform, Points offers three core private or co-branded services: its Buy Gift and Transfer service retails loyalty points and miles directly to consumers; its Points Loyalty Wallet service offers any developer transactional access to dozens of loyalty programs and their hundreds of millions of members via a package of APIs; and its Points Travel service helps loyalty programs increase program revenue from hotel bookings, and provides more opportunities for members to earn and redeem loyalty rewards more quickly. Points is headquartered in Toronto with offices in San Francisco and London.