- Acquisition creates a new global leader in ancillary revenue for the travel industry
- Plusgrade is now expected to generate over
US$3.5 billion in new revenue opportunities for its partners through 2022 - Acquisition creates unmatched scale in the global travel industry, expanding from 80 to over 140 partners globally
This combination creates a unique leadership position in ancillary revenue, establishing a market presence that is unmatched and unrivaled in this segment of the global travel industry. The combined entity is expected to generate more than
Two of the largest sources of ancillary revenue for the global travel industry consist of Frequent Flyer Programs and A la Carte Features including seating, according to "The 2021 CarTrawler Yearbook of Ancillary Revenue" by IdeaWorksCompany. By bringing together two leaders in each of these respective spaces, the combined company creates a robust platform that delivers a meaningful impact to the bottom lines of travel suppliers worldwide. In addition to Plusgrade's flagship Premium Upgrade and Seat Blocker products, the acquisition of Points will enable the expansion of additional value-adding and revenue-generating products and services, as well as growth into adjacent industries.
"With the coming together of our two companies, we continue to build upon our vision of becoming a global ancillary revenue powerhouse, enabling our global travel partners to unlock revenue and deliver outstanding travel experiences for their customers. We now have a broader suite of offerings on the Plusgrade platform that will help drive profitability for our partners while simultaneously elevating their customers' travel experiences, giving further runway to our maxim: millions of smiles and billions of dollars," said
"This is an exciting day for Points in joining forces with Plusgrade, we'll form part of a truly global leader in ancillary revenues across a number of industries. Our two teams are a natural fit, and we are excited to create even greater value for our Partners together. This is a transformational day for our company and the travel industry at large. Combining Points loyalty expertise with Plusgrade's capabilities in unlocking new sources of revenue for travel partners represents an exciting opportunity, particularly in an industry poised for a strong recovery," said
''We are very proud of our partnership with Ken and the Plusgrade team, supporting them in their mission to bring innovative revenue-generating solutions to the global travel industry," said
"As one of Plusgrade's major shareholders for nearly four years, CDPQ is proud to contribute to this transformative acquisition that will see Plusgrade expand its workforce and product offering," said
Plusgrade and Points will continue to operate with their existing leadership teams.
Pursuant to the statutory plan of arrangement, a wholly-owned subsidiary of Plusgrade acquired all of the issued and outstanding common shares of Points for
As a result of the arrangement, Points shares will be delisted from the TSX and the Nasdaq shortly hereafter. Points will also apply to cease to be a reporting issuer in all of the provinces of
In connection with the arrangement, 13994384
Full details of the arrangement and certain other matters are set out in the management proxy circular of Points under its issuer profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Plusgrade powers the global travel industry with its portfolio of leading ancillary revenue solutions. Over 140 airline, hospitality, cruise, passenger rail, and financial services companies trust Plusgrade to create new, meaningful revenue streams through incredible customer experiences. As an ancillary revenue powerhouse, Plusgrade has generated billions of dollars in new revenue opportunities across its platform for its partners, while creating enhanced travel experiences for millions of their passengers and guests. Plusgrade was founded in 2009 with headquarters in
Points is a trusted partner to the world's leading loyalty programs, leveraging its unique Loyalty Commerce Platform to build, power, and grow a network of ways members can get and use their favourite loyalty currency. The platform combines insights, technology, and resources to make the movement of loyalty currency simpler and more intelligent for nearly 60 reward programs worldwide. Founded in 2000, Points is headquartered in
For more information, visit www.points.com.
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at
CDPQ is a registered trademark owned by Caisse de dépôt et placement du
Founded in 1981,
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