The new company will have more than 60 million linked cards and $300 billion in transaction volume
Augeo, a global leader in employee, member, consumer and channel partner engagement solutions, announced it has acquired Empyr, a San Diego based card-linking platform for national brands and digital publishers.
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Together, they will launch a new company called Figg, combining the financial institution card-linking business of Augeo with the extensive publisher experience of Empyr. Augeo will continue to serve its extensive clientele independently, while the new company will represent one of the largest user bases in the card-linking industry, with more than 60 million users and $300 billion in transaction volume. Figg will bring new card-linked opportunities for advertisers, publishers and consumers.
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“While the timing might seem counter-intuitive, we believe there is an urgent need to bring advanced technology and more encompassing advertiser offer content to consumers seeking greater value,” said David Kristal, Augeo CEO and Executive Chairman of Figg. “Some retail sectors like grocery, household essentials and health-related products are near capacity, while the travel industry, hospitality, restaurants and many local service businesses are battling to stay afloat. As things begin to improve, Figg will be uniquely positioned to connect consumers with advertisers to help accelerate commerce in the U.S. market.”
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