JPMorgan Chase & Co acquired cxLoyalty (Global Loyalty business), a transaction completed in December 2020. The deal was a Carve-out.
cxLoyalty (Global Loyalty business) operates in Travel & loyalty technology, is based in Stamford, Connecticut, USA. JPMorgan Chase acquired the Global Loyalty business of cxLoyalty Group Holdings, including its loyalty technology platforms, a full-service travel agency, and gift-card and merchandise services. The deal expanded Chase's ability to offer travel and rewards experiences to its card customers, who continued to use Ultimate Rewards.
Own the technology and travel-booking capabilities behind its card rewards program rather than relying on a third party.
Consumer & Community Banking (card rewards)
On December 31, 2020, JPMorgan Chase acquired the Global Loyalty business of cxLoyalty Group Holdings, Inc. This includes cxLoyalty's technology platforms, full-service travel agency, and gift card and merchandise services.JPMorgan Chase, FY2020 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.