Lightyear Capital, a New York-based private equity firm, acquired a controlling stake in Augeo FI, a Naperville, IL-based outsourced loyalty program provider for banks and credit unions, for $140m.
The seller was Augeo FI’s parent company Augeo Affinity Marketing, Inc.
This additional capital will allow the company to expand capabilities, such as its pay-with-points offerings, and to continue to invest in technology in order to deliver sophisticated and customized reporting back to clients, giving them highly actionable insights they can use to better understand and serve their customers.
Founded in 2008, Augeo FI is a provider of outsourced, customized loyalty program solutions for middle-market banks and credit unions. The company, which currently serves approximately 1,200 clients, develops solutions to track points earned and drive cardholder behavior, carrying out point redemptions with am interface that is integrated into the majority of national processors and online banking software.
Following the close of the deal, Mike Knoop will remain with Augeo FI as the CEO and will retain the entire management team.
FinSMEs
26/09/2018