Chase Bank Acquires Bloomspot

Chase Bank USA, NA, a subsidiary of JPMorgan Chase & Co. (NYSE: JPM) has acquired Bloomspot, Inc., a San Francisco, California-based provider of targeted merchant offers.

The acquisition, whose terms were not disclosed, is expected to close in early 2013.

Led by Jasper Malcolmson, CEO, Bloomspot connects members to local and national merchants such as restaurants, spas, salons, hotel destinations in New York City, San Francisco, Los Angeles, Chicago, Washington DC, Boston, Houston, Seattle, Denver, and San Diego.

Commenting on the deal, Jeff Kinder, president of Chase Offers, said: “Bloomspot’s team appealed to us because of their focus on building sustainable value for merchants through a strong set of matching and analytics capabilities.
“They have developed innovative tools to close the loop for merchants and reward consumers who engage with these merchants. Their philosophy aligns very much with Chase’s in this space”.



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