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JPMorgan Chase Acquiring Customer Loyalty Division of cxLoyalty Group

TheMotleyFool

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JPMorgan Chase (NYSE: JPM) is ending 2020 with an intriguing acquisition. The big bank is buying a set of customer loyalty specialist assets from cxLoyalty Group Holdings. Neither the price nor the terms of the deal were disclosed.

In the words of the latter company from a press release published Monday afternoon, the assets purchased by JPMorgan Chase include "cxLoyalty's leading technology platforms, full service travel agency, gift card, merchandise, and points bank businesses." The remainder -- cxLoyalty's customer engagement division and "other ongoing businesses" -- will be held by that company's current investors.

Image source: Getty Images.

Source Fool.com

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