Augeo announced today that it will acquire fellow CardLinx member Empyr. The deal terms were not disclosed. Augeo is a leading digital engagement company and card-linked technology provider to banks. Empyr powers the Yelp card-linked offer program, among other leading publisher platforms. The new company will be called Figg and will have more than 60 million linked cards and $300 billion in transaction volume.
The deal had been some time in the making and signals CLOs coming of age as a key digital engagement technology. The new company will be a powerhouse in card-linking. CLO is no longer just a platform for new customer acquisition. The technology is now ubiquitous on apps as varied as online banking, ride-sharing, e-commerce couponing and travel. These apps use CLO to drive repeat visits by consumers by luring them with the opportunity to save or be rewarded with loyalty points.