News & Events
Webloyalty.com Completes Strategic Transaction with General Atlantic
NORWALK, CT. (May 13, 2005)- Webloyalty.com (http://www.webloyalty.com), a leading provider of online marketing and subscription services, today announced that its principal shareholders have completed the transaction to sell a majority stake in the company to General Atlantic LLC, a leading global private equity firm. The company's principal selling shareholders include Canaan Partners and BCI Partners. The terms of the transaction were not disclosed.
"We are excited about this transaction and are committed to working with our new partner, General Atlantic, to continue to deliver value to our clients through our industry-leading marketing programs and customer service," said Richard Fernandes, CEO & founding partner of webloyalty.com. "General Atlantic will provide strategy and financial resources to guide our continued growth."
CIBC World Markets Inc. acted as financial advisor to webloyalty.com on the transaction.
About webloyalty.com
Webloyalty.com (http://www.webloyalty.com) is one of the leading online subscription and marketing services companies providing customized programs to e-commerce, travel and other fee-based businesses. Through its range of innovative Internet products, webloyalty.com enables its clients to generate new revenues and increase repeat purchase rates while offering their clients' customers a range of subscription services in a credible and trustworthy environment. Founded in 1999, in response to the emerging needs of e-commerce companies, webloyalty.com has a client roster of over 80 companies. Since its inception, the company has been dedicated to marketing responsibly on behalf of its clients to their customers by offering a new model of customer-friendly subscription services.
About General Atlantic
General Atlantic LLC, is a leading global private equity firm focused on investing in companies providing information technology or using information technology to drive growth. The firm was founded in 1980 and has about $8 billion in capital under management. General Atlantic has invested in over 140 companies and has current holdings in approximately 50 companies, of which almost one half are based outside the United States. The firm is distinguished within the investment community by its global strategy and worldwide presence, its commitment to provide sustained value-added assistance for its portfolio companies and its long term approach. General Atlantic has nearly 70 professionals among its 130 employees worldwide with offices in Greenwich, New York, Palo Alto, Washington, D.C., London, Düsseldorf, Singapore, Tokyo, Mumbai, Hong Kong, and São Paulo. For further information and a listing of our public and private portfolio companies see www.generalatlantic.com
For Further Information, contact:
For webloyalty.com:
Melissa Kanter
Edelman
212.704.8261
melissa.kanter@edelman.com
For General Atlantic:
Pat Hedley
203.629.8658
phedley@generalatlantic.com
Press Contact:
Edelman
Danielle Richichi
danielle.richichi
@edelman.com
(212) 819-4804
