American Express to Acquire Loyalty Partner for $660M

American Express Company AXP today announced it will acquire Loyalty Partner, a marketing services company best known for the loyalty program it operates in Germany, Poland and India. The purchase, which is subject to regulatory approval, is expected to close in the first quarter of 2011. The transaction, which values the company at €496 (US $660) million, consists of an upfront cash purchase price of €425 (US $566) million and an additional €71 (US $94) million equity interest that will be held by Loyalty Partner's management. American Express will acquire that interest over the next five years at a value based on business performance.