USA Interactive to buy Pointsxchange majority

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By: Wise Marketer Staff |

Posted on April 3, 2003

USA Interactive to buy Pointsxchange majority

The operator of the Points.com loyalty points exchange, Points International, has agreed to sell up to 55% of its share holding to interactive technology firm, USA Interactive (USAI), with an investment of Cdn$15.1 million. The deal is still subject to regulatory approvals, and is expected to close by July 14th, 2003.

Points International's board of directors has approved the deal, and shareholders of Points holding more than 20% of its outstanding common shares have also consented.

"Over the past year we have made tremendous strides toward realising our vision of developing a global marketplace to enable the seamless exchange of loyalty points, one of the world's largest currencies," said Points President Christopher Barnard.

The points exchange "Through our Pointsxchange system, consumers can trade points and miles from leading loyalty programmes including AAdvantage, Delta SkyMiles and Priority Club Rewards (from Six Continents Hotels)," he added. "Our new partnership with USAI places Points in a wonderful position to start our next stage of growth."

The cornerstone of Points' loyalty programme asset management system is Pointsxchange - a loyalty scheme currency exchange that allows consumers to earn rewards more quickly by making an array of disparate points count toward a single purpose.

About Points International The firm also runs a PointsPurchase scheme which allows loyalty programme members to buy extra points within their loyalty currencies, including American Airlines, Air Canada, America West Airlines, Alaska Airlines, Cathay Pacific Airways, and US Airways. Six Continents Hotels is soon to be added to the growing list.

About USA Interactive USA Interactive is a specialist in various forms of interactivity using the internet, television and telephones. Its brands are organised into three areas: electronic retailing (including America's Store, HSN.com, and Home Shopping Europe), information and services (such as Ticketmaster, Match.com, and Citysearch), and travel services (including Expedia, Hotels.com, and TV Travel Group).

For further information: ·  Visit Points at http://www.points.com ·  Visit USAI at http://www.usainteractive.com