American Express Relies on the Drooms Virtual Data Room in Its Acquisition of Loyalty Partner

American Express acquires the company behind Payback for approximately €498 million

American Express announced on 1 March 2011 that it has completed its acquisition of Loyalty Partner, a leading provider of customer loyalty programs in Germany, Poland, and India. American Express paid approximately 425 million euros in cash for the company, and an additional 73 million euros equity interest will be held by Loyalty Partner's management, valuing it at approximately 498 million euros.

With the acquisition, American Express continues to execute its corporate strategy of tapping into potential areas for growth and strengthening its international presence. The New York-based credit card company has been able to increase its global customer portfolio by 34 million customers with this single transaction. Loyalty Partner benefits from the merger by gaining immediate entry into new international markets.

Drooms provided the virtual data room for the transaction. Customisable rights management enabled carefully timed access to confidential documents by both internal and external parties. Additionally, the intuitive user interface allowed for easy administration of the data room. Most importantly, however, is the unique viewing technology that makes it the best platform in the market for secure and fast parallel due diligence processes.