LoyaltyOne buys 26% stake in Direxions Marketing

Canada-based Alliance Data's LoyaltyOne today said it had acquired 26% stake in India-headquartered Direxions Marketing Solutions, a customer relationship management solutions and data analytics company, for an undisclosed amount.

"Our investment in, and the partnership with Direxions, represents a significant opportunity for LoyaltyOne to enter the Indian market and achieve success in one of the world's fastest-growing consumer markets," LoyaltyOne president and CEO Bryan Pearson said in a statement.

"We will leverage Direxions' thought leadership, unparallelled expertise, experience and pioneering work with leading Indian and international brands and businesses to continue to deliver significant consumer and client value within India," he added.

LoyaltyOne is a global provider of customer analytics and relationship marketing services. Its partnership with Direxions is in keeping with its global expansion strategy to identify geographies with significant market opportunities for loyalty initiatives, the statement said.

"We are happy to partner with LoyaltyOne and see a significant opportunity in the rapidly burgeoning Indian market for the combined entity," Direxions Global Solutions Managing Director Brian Almeida said in the statement.