February 28, 2022
Toronto-based Givex has acquired Loyalty Lane, a customer relationship management (“CRM”) marketing services company, for an undisclosed purchase price.
Givex, a TSX-listed company, provides businesses in the restaurant and retail industries with a variety of management and marketing solutions, including point-of-sale (“POS”) systems, order management solutions, gift card and loyalty programs, and analytics. Givex services more than 96,000 locations spanning over 100 countries.
Loyalty Lane, a Georgia-based company, offers CRM marketing solutions for the retail sector, including rewards management, POS integration, email marketing systems, and analytics. It is particularly prominent in the grocery, convenience store and fuel pump sectors across the US and Canada.
Included in the Loyalty Lane acquisition are two subsidiaries: Electronic Scrip (a charitable fundraising platform that has helped raise over US$450 million for charities since its inception) and Media Solutions Co. (a digital marketing company focusing on serving small businesses). Together with its subsidiaries, Loyalty Lane ended its 2021 fiscal year with unaudited revenue of over US$4.5 million.
Don Gray, Chief Executive Officer of Givex, said the company’s acquisition of Loyalty Lane will increase its customer base, merchant locations, revenue and EBITDA. It will also provide a CRM solution for the grocery sector, which Givex does not presently have. “Givex is excited to offer additional services to the 11 million plus consumers Loyalty Lane currently serves,” Don added. Givex plans to combine both companies’ technologies and eventually operate all services on one common platform.
By: Eran Rubman