cxLoyalty Group Holdings sale of Global Loyalty division to JPMorgan Chase
Davis Polk is advising cxLoyalty Group Holdings, Inc. in connection with its definitive agreement to sell its Global Loyalty division to JPMorgan Chase & Co. The deal includes cxLoyalty’s leading technology platforms, full service travel agency, gift card, merchandise and points bank businesses. The transaction is expected to close in the coming days, subject to customary closing conditions.
cxLoyalty is a leading loyalty and customer engagement solutions company servicing 70 million consumers with approximately 3000 client and marketing partner relationships and over 40 years of experience. JPMorgan Chase is a leading global financial services firm with assets of $3.2 trillion and operations worldwide.
The Davis Polk corporate team includes partners William H. Aaronson and Darren M. Schweiger and associates Nicholas C. Phillips and Christine Choi. Partner William A. Curran and associate M. Jared Sanders are providing tax advice. Partner Pritesh P. Shah and associate Christopher C. Woller are providing intellectual property advice. Partner Jeffrey P. Crandall and associate Nicholas D. DeLuca are providing executive compensation advice. All members of the Davis Polk team are based in the New York office.