Mastercard Acquires SessionM to Broaden its Merchant Loyalty & Marketing Services
October 22 2019 - 9:00AM
Business Wire
Mastercard (NYSE: MA) today announced it has entered into an
agreement to acquire SessionM, a U.S.-based technology company.
SessionM’s customer engagement and loyalty platform empowers the
world’s most innovative brands—including retailers, airlines,
restaurants and CPG companies—to forge stronger and more profitable
consumer relationships.
The addition of SessionM will enhance Mastercard’s ability to
help brands around the world deliver personalized, real-time offers
and comprehensive campaign measurement based on robust, data-driven
insights. Mastercard is constantly innovating and investing to
bring fresh value to brands globally—helping them build and enhance
their customer relationships and, ultimately, grow their
business.
“Consumers' expectations about their experiences with brands are
changing,” said Francis Hondal, president, loyalty and engagement
at Mastercard. “We believe that the future of loyalty needs to be
re-imagined to enable seamless digital experiences, and SessionM’s
consumer-centric capabilities will help us broaden our value to
marketers across sectors in exciting new ways.”
Many businesses are seeking to reinvent their loyalty programs
to better serve increasingly digital consumers. SessionM helps
brands create and manage consumer engagement and loyalty programs
with industry-leading technology that powers a complete loyalty
solution -- from data management to campaign execution to program
measurement.
“SessionM shares Mastercard’s commitment to creating experiences
that drive lasting loyalty and meaningful, impactful customer
engagement,” said Lars Albright, co-founder and CEO of SessionM.
“We look forward to joining the Mastercard family and to bringing
our innovative technology to even more customers in more places
around the globe.”
Over the past decade, Mastercard has made a number of
investments to advance its data-driven services for retailers and
other brands. This includes the acquisition of Applied Predictive
Technologies, a test and learn analytics tool that allows brands to
prove the real impact of marketing, product and other decisions.
Mastercard has also expanded its market-leading consulting program
and enhanced its marketing services, executing omnichannel
campaigns on behalf of customers.
“With our suite of data-driven services, we aim to help our
customers end to end – from advice to execution and everything in
between,” said Kevin Stanton, chief services officer, Mastercard.
“Our complementary technology and teams will help brands drive
greater loyalty with both proprietary and card-based
programs—reinforcing Mastercard as their partner of choice.”
Terms of the agreement were not disclosed and the transaction is
anticipated to close in the fourth quarter.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. Our global payments
processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews, join
the discussion on the Beyond the Transaction Blog and subscribe for
the latest news on the Engagement Bureau.
About SessionM
SessionM is a customer engagement and loyalty platform
empowering the world’s most innovative brands to forge stronger and
more profitable customer relationships. The platform scales for the
enterprise, globally. SessionM is headquartered in Boston with
offices around the globe. For more information on SessionM, visit
www.sessionm.com.
Forward-Looking Statements
This press release contains forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical facts may be forward-looking statements. When used in
this press release, the words “believe,” “expect,” “could,” “may,”
“would,” “will,” “trend” and similar words are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements that relate to
Mastercard’s future prospects, developments and business
strategies, as well as Mastercard’s acquisition and operation of
SessionM’s business. We caution you to not place undue reliance on
these forward-looking statements, as they speak only as of the date
they are made. Except for the company’s ongoing obligations under
the U.S. federal securities laws, the company does not intend to
update or otherwise revise the forward-looking information to
reflect actual results of operations, changes in financial
condition, changes in estimates, expectations or assumptions,
changes in general economic or industry conditions or other
circumstances arising and/or existing since the preparation of this
press release or to reflect the occurrence of any unanticipated
events.
Many factors and uncertainties relating to the proposed
transaction, our operations and our business environment, all of
which are difficult to predict and many of which are outside of our
control, influence whether any forward-looking statements can or
will be achieved. Any one of these factors could cause our actual
results or the impact of the acquisition to differ materially from
those expressed or implied in writing in any forward-looking
statements made by Mastercard or on its behalf. Such factors
related to the completion and impact of the acquisition include,
but are not limited to, whether all necessary conditions will be
met, and whether the transaction will close on agreed terms and in
a timely manner.
For additional information on other factors related to
Mastercard’s overall business that could cause Mastercard’s actual
results to differ materially from expected results, please see the
company’s filings with the Securities and Exchange Commission,
including the company’s Annual Report on Form 10-K for the year
ended December 31, 2018, and any subsequent reports on Forms 10-Q
and 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20191022005675/en/
Julia Monti Julia.monti@mastercard.com 914-217-9533
MasterCard (NYSE:MA)
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