Aimia at a glance
1984: Founded by Air Canada as Aeroplan, an incentive program for frequent fliers
2002: Spun off as a separate company and diversified into non-flight rewards
2005: Went public with an initial valuation of $2 billion
2007: Acquired Loyalty Management Group, including Nectar, the largest coalition loyalty program in the U.K.
2009: Acquired Carlson Marketing, a U.S. loyalty marketing brand launched in 1938
2011: Acquired a minority equity position in Cardlytics, a U.S. transaction-driven marketing firm
2012: Acquired Dayton-based Excellence in Motivation
The acquisition of Dayton-based Excellence in Motivation Inc. by a publicly traded Canadian firm shouldn’t result in any local job losses, company officials said Tuesday.
Montreal-based Aimia acquired Excellence in Motivation (EIM), a provider of employee performance incentives and business-improvement strategies for companies, for about $28 million.
Aimia, a $2 billion loyalty management company, has committed to keeping jobs in Dayton, said Bob Miller, EIM’s president and chief executive.
“We really expect no decline in the Dayton employee base,” Miller said. “If anything, we expect that this could mean jobs for the area.”
Founded in 1993, EIM uses technology to help clients boost productivity and reduce costs. EIM also specializes in sales and channel partner programs that have grown revenues and increased market share for its clients. The privately held company does about $100 million in annual sales, Miller said.
EIM has about 185 employees, plus 15 contractors, working in downtown Dayton. The company also has about 15 employees in its Los Angeles office, as well as a U.S. sales presence.
Miller said the acquisition was an opportunity to grow for Aimia, which shares complimentary client bases and services with EIM. “There is no plan to fund any part of it through cost reductions,” he said.
The companies plan to sell their respective services to one another’s clients, Miller said.
The deal is subject to customary closing conditions and is expected to close by the end of September.
EIM eventually will re-brand to Aimia. Miller will remain in Dayton as EIM’s president and run local operations.
Miller said the deal has been in the works for nearly a year. He originally approached Aimia about EIM possibly buying portions of its business. “It was one of those ‘hunter became the hunted’ kind of things,” he said.
Aimia is listed on the Toronto Stock Exchange and has more than 3,400 employees in 20-plus countries.
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