Aimia transfers the Air Miles Trademarks, license and royalty agreements for Canada to Diversified Royalty Corp. for a cash consideration of approximately $53.75 million. An additional contingent consideration, up to a maximum of approximately $13.75 million, may be paid within the next three years, based on the performance of the program. Aimia expects to pay cash taxes related to the sale of these trademarks in 2018 of between $13 million and $16 million. Annual license fee revenue generated from the trademarks being sold has historically represented approximately $8.5 million on average.
The Air Miles Trademarks for Canada are used under license and exclusive right by LoyaltyOne, Inc.
“This transaction is part of our plan to simplify our business. We continue to evaluate and consider further disposals of non-core investments and assets to strengthen our balance sheet,” said David Johnston, Group Chief Executive, Aimia.
Aimia Inc. provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers.
With about 2,300 employees across 15 countries, Aimia partners with groups of companies (coalitions) and individual companies to help generate, collect and analyze customer data and build actionable insights.