Aimia, a Montreal, Canada-based loyalty firm has entered into an agreement to buy Excellence In Motivation Inc. (EIM), a privately-owned, U.S.-based performance improvement and business loyalty solutions provider, for approximately $28 million (U.S.).
The transaction is subject to customary closing conditions and is expected to close by the end of September. The acquisition will be financed with cash on hand.
The acquisition will better help Aimia compete in today’s loyalty marketing industry, according to Mark Johnson, president and CEO of Loyalty360. “EIM was a smaller company that had a number of products, yet as we see the transition from old-school incentive, reward programs the need to get a better understanding of the behavioral and comprehensive marketing aspects a true loyalty ‘program’ provides. The ability of EIM and Aimia to work together with their relative strengths will allow for greater client insight, impact and ability to drive mutually beneficial behavioral change.”
The acquisition is part of Aimia's global growth strategy, which includes investing in opportunities that complement its business, accelerating its presence in the U.S. market, the company said. The transaction is designed to strengthen Aimia's presence in key vertical markets, including automotive, healthcare, pharmaceutical, high tech and telecommunications. While building Aimia's geographic footprint coast to coast, the acquisition of EIM is expected to increase the breadth and depth of Aimia's business loyalty product and client portfolio.
“EIM is a great addition to the Aimia family as we continue to look for opportunities to increase our presence in the U.S. market," said Rupert Duchesne, Aimia group chief executive in prepared remarks. “The acquisition complements our Business Loyalty division in the U.S. and offers opportunities for organizational growth and increased market share.”
Founded in 1993, EIM is a leading performance improvement company aimed at positively changing behaviors of employees, channel partners and customers. Originally conceived as a traditional full service performance company, EIM was an early innovator of web-based solutions for clients. Today, EIM utilizes cutting-edge technology solutions to help clients maximize productivity, reduce costs and increase employee engagement. EIM also specializes in sales and channel partner programs that have grown revenues and increased market share for its clients. EIM has over 200 employees based in offices in Dayton, Ohio and Los Angeles, Calif. with sales presence across the U.S.
“By joining the Aimia family, our clients will benefit from an expanded full suite of loyalty solution capabilities and increased sector-specific loyalty marketing expertise,” EIM President and CEO, Bob Miller added in prepared remarks. “We can also leverage Aimia's global footprint and capabilities to help our clients execute on a global scale. Together, Aimia and EIM will enable our corporate clients to engage employees, energize channels, and ultimately build loyalty among customers.”
Company officials added that the acquisition further advances Aimia's position as a leading full suite loyalty management company delivering employee and customer solutions across all vertical industries, geographies and channels for consumer and business-to-business brands.