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Synchrony to Acquire Loop Commerce to Diversify Digital Commerce Capabilities
Tuesday 15 May 2018

15 May 2018 - Connecticut, US-based financial services company Synchrony (NYSE: SYF) has agreed to acquire California, US-based digital gift commerce company Loop Commerce, the company said.
Financial terms were not disclosed; the deal is not expected to have material impact on Synchrony's financial results.
The acquisition will help diversify Synchrony's business, broaden its reach, provide more strategic value and capabilities for partners and deepen its technology portfolio.
Synchrony is acquiring Loop Commerce to make it faster and easier for partners to incorporate personalised digital and in-store gifting by marrying the simplicity of Loop Commerce's unique technology platform with Synchrony's deep consumer financial services experience, strong retail partnerships and loyalty programmes.
Loop Commerce's patented GiftNow technology solution integrates with retailers' online stores through cloud-based software.
Loop Commerce will continue to operate as a wholly-owned subsidiary of Synchrony as they expand their team in Menlo Park, California.
Loop Commerce offers a patented GiftNow platform and service by removing the obstacles consumers face when trying to buy a physical product as a gift for someone else. Loop offers an enterprise-grade, fully customisable solution that powers the digital gifting strategy for leading brands and retailers through a 360-degree platform.
Synchrony delivers customised financing programmes across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than USD 130bn in sales financed and 74.5 m active accounts.
Morgan Stanley and Co. LLC acted as the financial advisor to Synchrony and Sidley Austin LLC acted as Synchrony's legal advisor. Steelhead Advisors LLC acted as financial advisor to Loop Commerce.
Details
Date Published: 15/05/2018
Target: Loop Commerce
Country: USA
Sector: Wholesale/Retail
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Synchrony
Buyer Advisor: Morgan Stanley and Co , Sidley Austin
Comment:
Terms of the deal were not disclosed

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