Bread Financial#Alliance Data Card Services

File:Alliance Data's Plano,TX Headquarters Building.jpgAlliance Data was formed from the December 1996 merger of two entities: J.C. Penney's credit card processing unit and The Limited's credit card bank operation, named World Financial Network National Bank.{{cite web|url=http://www.businessweek.com/it100/2006/99.htm |title=The InfoTech 100 Companies: Alliance Data Systems Profile |publisher=Businessweek.com |date=2006-05-31 |access-date=2010-07-01| archive-url= https://web.archive.org/web/20100627061717/http://www.businessweek.com/it100/2006/99.htm| archive-date= 27 June 2010 | url-status= dead}}

In August 1998, Alliance Data acquired LoyaltyOne, then-branded The Loyalty Group Canada, for $250 million.{{cite web|url=http://www.roystephenson.co.uk/loyalty.doc|title=The Value of Loyalty|year=2008}}{{Dead link|date=October 2018 |bot=InternetArchiveBot |fix-attempted=yes }} The deal gave Alliance Data two business enhancements, Canada's Air Miles Rewards Program and the company behind the Air Miles program, LoyaltyOne.{{cite web|url=http://www.strategyonline.ca/articles/magazine/19980803/22356.html|title=U.S. database specialist buys The Loyalty Group|date=1998-08-03}}

In 2001, Alliance Data went public.{{cite web |last1=Molinari |first1=Elena |title=Alliance Data Debuts After 18-Month Wait |url=https://www.wsj.com/articles/SB992025189133296533 |website=Wall Street Journal |date=June 8, 2001}}

In May 2007, The Blackstone Group, a private equity firm, announced plans to acquire Alliance Data.{{cite news|author1=Michael Flaherty |author2=Caroline Humer |url=https://www.reuters.com/article/idUSWNAS180020070517 |title=Blackstone to buy Alliance Data for $6.76 billion |publisher=Reuters |date= 2007-05-17|access-date=2010-07-01}}{{cite web |url=http://www.paymentsnews.com/2007/05/alliance_data_t.html |title=Alliance Data To Be Acquired by The Blackstone Group |publisher=Paymentsnews.com |access-date=2010-07-01 |archive-url=https://web.archive.org/web/20110715060707/http://www.paymentsnews.com/2007/05/alliance_data_t.html |archive-date=2011-07-15 |url-status=dead }} In April 2008, Alliance Data terminated the merger agreement with Blackstone Affiliates.{{cite news| url=https://www.nytimes.com/2008/02/09/business/09data.html | work=The New York Times | title=Alliance Data Drops Suit to Force Deal | date=2008-02-09}}{{cite web |url=http://www.paymentsnews.com/2008/04/alliance-data-t.html |title=Alliance Data Terminates Merger Agreement with Blackstone Affiliates |publisher=Paymentsnews.com |access-date=2010-07-01 |archive-url=https://web.archive.org/web/20110715060726/http://www.paymentsnews.com/2008/04/alliance-data-t.html |archive-date=2011-07-15 |url-status=dead }}

Ed Heffernan was promoted to president and CEO of Alliance Data in February 2009, after being with the company since 1998.{{cite news |url=https://people.forbes.com/profile/edward-j-heffernan/3109 |title=Forbes Profile on Ed Heffernan |work=Forbes.com |access-date=2010-11-22 |archive-url=https://web.archive.org/web/20110129065423/http://people.forbes.com/profile/edward-j-heffernan/3109 |archive-date=2011-01-29 |url-status=dead }}{{cite news|url=http://dallas.bizjournals.com/dallas/stories/2010/01/11/tidbits1.html |title=Alliance Data CEO Ed Heffernan taps into his M&A expertise to take big risks in a tough economy |publisher=www.bizjournals.com/dallas/ |date=2010-01-10 |access-date=2010-11-22 |first=Shashana |last=Pearson-Hormillosa}}{{cite web |url=http://www.tradingmarkets.com/.site/news/TOP%20STORY/2183236/ |title=Alliance Data promotes CFO Edward Heffernan to president, CEO; Michael Parks to continue as chairman - update |publisher=tradingmarkets.com |date=2009-02-18 |access-date=2010-11-22 }}{{Dead link|date=October 2018 |bot=InternetArchiveBot |fix-attempted=yes }} In 2019 he resigned as CEO of Alliance Data and was replaced by Melisa Miller, who previously ran Alliance Data's Card Services division. This change in leadership effectively moved Alliance Data's Headquarters from Plano, Texas, to Columbus, Ohio.{{cite news |url=https://finance.yahoo.com/news/alliance-data-announces-organizational-changes-203000887.html |title=Alliance Data Announces Organizational Changes |publisher=Yahoo Finance |access-date=2019-06-10 }} Melisa Miller held the role for about 6 months before being replaced by former CITI executive Ralph Andretta.

In 2019, Alliance Data opened its first international office in Bangalore, India.{{cite news |last1=Sarkar |first1=Brinda |title=Alliance Data's card services business opens office in Bengaluru |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/alliance-datas-card-services-business-opens-office-in-bengaluru/articleshow/70259048.cms |website=The Economic Times|date=17 July 2019 }}

In November 2021, Alliance Data completed the separation of its LoyaltyOne segment, consisting of the Canadian AIR MILES Reward Program and Netherlands-based BrandLoyalty businesses, into an independent, publicly traded company, Loyalty Ventures Inc.{{cite web |last1=Fitzgerald |first1=Kate |title=Alliance Data becomes Bread, taking buy now/pay later unit's name |url=https://www.americanbanker.com/payments/news/alliance-data-becomes-bread-taking-buy-now-pay-later-units-name |website=American Banker |date=March 23, 2022}} In March 2022, Alliance Data rebranded as Bread Financial.{{cite web |url=https://www.finance.yahoo.com/news/alliance-data-now-bread-financial-161109983.html |title=Alliance Data is now Bread Financial™ |website=www.finance.yahoo.com |date=23 March 2022 |access-date=24 March 2022}}

Card Services is a provider of integrated credit and marketing services including private label, co-branded and commercial credit card programs. Alliance Data Card Services manages over 135{{cite news|last=ADS|url=http://phx.corporate-ir.net/phoenix.zhtml?c=120991&p=irol-newsArticle&ID=1836491 |title=Client News Release}} card programs for retail brands such as Victoria’s Secret, J.Crew, Eddie Bauer, Buckle, HSN, Pottery Barn, Pier 1 Imports, Lexus, Toyota, Williams Sonoma and Wayfair among many others.{{cite news|last=Pimlott|first=Daniel|title=Blackstone seals $8bn deal for credit card group ADS|url=http://www.ft.com/intl/cms/s/0/e9895eca-04db-11dc-80ed-000b5df10621.html#axzz2BSkXWkOF|access-date=6 November 2012|newspaper=Financial Times|date=18 May 2007}}

Alliance Data Card Services maintains two banks to manage the funding and receivables for its clients' credit programs. In September 2012, the banks rebranded their names from WFNNB (World Financial Network [National] Bank) and WFCB (World Financial Capital Bank) to both operate under the Comenity name, as Comenity Bank and Comenity Capital Bank, respectively.{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapid=36704 |archive-url=https://web.archive.org/web/20110709165012/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=36704 |url-status=dead |archive-date=July 9, 2011 |title=Comenity Bank: Private Company Information - Businessweek |publisher=Investing.businessweek.com |access-date=2014-03-13}}

LoyaltyOne, located in Canada, provides loyalty marketing programs for North American brands in the retail, financial services, grocery, petroleum, travel, and hospitality industries.{{Citation needed|date=September 2024}}

Five businesses make up the LoyaltyOne: Air Miles national reward program, in which approximately two-thirds of Canadian households participate;{{cite web |url=http://www.aeis.com/airmiles/fastFacts_EN.html |title=AIR MILES Corporate Incentives | Fast Facts |publisher=Aeis.com |access-date=2010-07-01 |archive-url=https://web.archive.org/web/20090401003341/http://www.aeis.com/airmiles/fastFacts_EN.html |archive-date=2009-04-01 |url-status=dead }} Colloquy; LoyaltyOne Consulting; Precima; and Squareknot.

Epsilon provides a broad range of loyalty marketing services spanning database marketing, direct mail, email marketing, web development, loyalty programs, analytics, data services, strategic consulting, and creative services, among others. It sends billions of permission-based emails every year.{{cite news |url=https://www.reuters.com/article/us-citi-capitalone-data-idUSTRE7321PI20110403 |title=More customers exposed as big data breach grows |publisher=Reuters | date=2011-04-03}} Acquired by Epsilon in 2011,{{cite news |last=Elliott|first=Stuart|url=http://mediadecoder.blogs.nytimes.com/2011/04/25/epsilon-to-acquire-aspen-marketing-services/ |title=Epsilon to Acquire Aspen Marketing Services|date=25 April 2011 |department=Media Decoder |work=The New York Times |access-date=8 September 2012}} Aspen Marketing Services is a marketing services agency headquartered in Chicago, Illinois.{{cite web |url=http://www.destinationcrm.com/Articles/ReadArticle.aspx?ArticleID=42881 |title=Aspen Marketing Services Acquires Newgen Results Corp. |date=1 October 2007|publisher=destinationcrm.com|access-date=8 September 2012}} In 2012, Epsilon reached an agreement to acquire the Hyper Marketing ("HMI") group of companies, the largest privately held digital marketing services agencies in the United States, for about $460 million. {{cn|date=October 2024}}

In late February 2013, Facebook announced partnerships with four companies, including Epsilon, to help reshape its targeted advertising strategy.[https://www.cnbc.com/2013/03/26/what-you-didnt-post-facebook-may-still-know.html "What You Didn't Post, Facebook May Still Know" 26-03-2013]

The company relocated its headquarters to the former Nokia regional headquarters space in Las Colinas, Texas, near Dallas.{{cite web |last=Brown |first=Steve |url=http://www.dallasnews.com/business/commercial-real-estate/20130813-nokia-leaving-high-profile-las-colinas-tower-epsilon-moving-in.ece |title=Nokia leaving high-profile Las Colinas tower; Epsilon moving in |work=Dallas Morning News |date=2013-08-13 |access-date=2014-03-13}}{{cite web |url=http://www.bizjournals.com/dallas/news/2014/08/05/epsilon-moves-into-newly-finished-irving.html |title=Epsilon moves into newly finished Irving headquarters |date=5 August 2014 |work=Dallas Business Journal}}

In April 2019, Publicis Groupe announced it would be acquiring Epsilon for $4.4 billion. This was the second biggest deal in the history of advertising, behind only Dentsu's $5 billion acquisition of Aegis Group in 2012.{{cite news |url=https://www.cnbc.com/2019/04/14/publicis-to-buy-epsilon-for-4point4-billion.html |title=Publicis announces $4.4 billion deal to acquire data marketing company Epsilon |first=Megan |last=Graham |author-link=Megan Graham |others=Graham Messick and Maria Gavrilovic, producers |date=April 14, 2019 |publisher=CNBC |access-date=2019-04-14}}

On January 27, 2021, the U.S. Department of Justice entered a Deferred Prosecution Agreement with Epsilon Data Management, which set up a $127.5 million fund to compensate victims.{{Cite web |last=Erblat |first=Austen |date=2024-06-01 |title=Former Colorado data company executive convicted of mail and wire fraud, sold data on millions of people - CBS Colorado |url=https://www.cbsnews.com/colorado/news/former-colorado-data-company-executive-convicted-mail-wire-fraud/ |access-date=2024-06-24 |website=www.cbsnews.com |language=en-US}}{{Cite web |date=2021-01-15 |title=Civil Division {{!}} United States v. Epsilon Data Management, LLC {{!}} United States Department of Justice |url=https://www.justice.gov/civil/case/epsilon |access-date=2024-06-24 |website=www.justice.gov |language=en}} 

In 2010 Epsilon failed to heed warnings to secure data.{{cite web|url=http://www.darkreading.com/attacks-and-breaches/epsilon-fell-to-spear-phishing-attack/d/d-id/1097119?|title=Epsilon Fell To Spear-Phishing Attack|work=Dark Reading|date=4 November 2011}} In March 2011 it was discovered that email addresses from customers of at least 50 client companies were stolen. A phishing tactic that uses personalized emails to trick people into disclosing personal information, including passwords and financial details, it was reported that the breach was related to Epsilon itself being phished. The company quickly notified the public about the breach.{{Cite news|url=https://www.wsj.com/articles/SB10001424052702303499204576389773023983518|title=Firms Adjust to Hacks|newspaper=Wall Street Journal|date=17 June 2011}} In June 2011 company executives were called before Congress to answer questions about the security breach.{{cite web|url=http://www.corpcounsel.com/id=1202499334281?slreturn=20150125052601|title=Epsilon Data Management GC on How to Handle Data Breaches|author =Sue Reisinger|work=Corporate Counsel}} Interviewed for a 60 Minutes segment titled "The Data Brokers: Selling your personal information", then-CEO and chairman Bryan Kennedy called the hearings "political theater" and stated that "consumers ought to understand that the Internet is an advertising medium."{{Cite web |last=Kroft |first=Steve |date=2014-08-24 |title=The Data Brokers: Selling your personal information - CBS News |url=https://www.cbsnews.com/news/data-brokers-selling-personal-information-60-minutes/ |access-date=2024-10-31 |website=www.cbsnews.com |language=en-US}}

In October 2020, Alliance Data launched Enhanced Digital Suite.{{cite web |last1=Lucas |first1=Peter |title=Alliance Data Shifts Its In-House Private-Label Processing Operations to Fiserv |url=https://www.digitaltransactions.net/alliance-data-shifts-its-in-house-private-label-processing-operations-to-fiserv/ |website=Digital Transactions |date=October 22, 2020}}

In October 2020, Alliance Data selected Fiserv for Credit Processing Services.{{cite web |last1=Ghose |first1=Carrie |title=Alliance Data investing $100M in digital tech including buy-now-pay-later |url=https://www.bizjournals.com/columbus/news/2021/10/28/alliance-data-invest-100m-digital-tech.html |website=Columbus Business Journal |date=October 28, 2021}}

In 2021, Alliance Data invested $100M in digital technologies.{{cite web |last1=Ghose |first1=Carrie |title=Alliance Data renames itself for fintech acquisition |url=https://www.bizjournals.com/columbus/news/2022/03/23/alliance-data-now-bread.html |website=Columbus Business Journal |date=March 23, 2022}}

In April 2022, Bread Financial partnered with American Express and launched the Bread Cashback American Express Credit Card.{{cite web |last1=Holzhauer |first1=Brett |title=American Express and Bread Financial announce new 2% cash-back credit card |url=https://www.cnbc.com/select/american-express-bread-financial-new-cash-back-credit-card/ |website=CNBC |date=April 21, 2022}}{{cite web |last1=Frankel |first1=Robin Saks |last2=Adams |first2=Dia |title=Bread Cashback American Express Card 2022 Review |url=https://www.forbes.com/advisor/credit-cards/reviews/bread-cashback-american-express/ |website=Forbes |date=July 6, 2022}}

• 1998: LoyaltyOne was acquired by Alliance Data.
• 2002: Colloquy/Frequency Marketing was acquired by Alliance Data.{{Cite web|url=https://www.chiefmarketer.com/alliance-data-systems-buys-frequency-marketing/|title = Alliance Data Systems Buys Frequency Marketing}}
• 2004: Epsilon was acquired by Alliance Data.{{cite web|url=http://www.crm2day.com/content/t6_librarynews_1.php?news_id=EpAZlFlAppCYiQnkUB |title=Alliance Data Systems to Acquire Epsilon Data Management, Inc |publisher=Crm2day.com |access-date=2010-07-01}}
• 2005: Bigfoot Interactive was acquired by Alliance Data.{{cite web|url=http://www.clickz.com/3547231 |title=Epsilon to Snap Up Bigfoot Interactive |date=3 October 2007 |publisher=ClickZ |access-date=2014-03-13}}
• 2006: Abacus was acquired by Alliance Data's Epsilon from DoubleClick.{{cite web|author =Worldwide Databases |url=http://www.entrepreneur.com/tradejournals/article/157931512.html |title=Alliance Data'S Epsilon To Acquire Abacus. |publisher=Entrepreneur.com |date=2007-02-01 |access-date=2010-07-01}}
• 2008: Heartland Payment Systems acquired Alliance Data's Network Services business.{{cite web |url=http://www.csnews.com/csn/technology/article_display.jsp?vnu_content_id=1003800649 |title=Convenience Store News |publisher=Csnews.com |access-date=2010-07-01 }}{{Dead link|date=October 2018 |bot=InternetArchiveBot |fix-attempted=yes }}
• 2008: Vertex acquired Alliance Data’s Utility Services business.{{cite web|url=http://www.riskcenter.com/story.php?id=16835 |title=Energy Risk - Vertex Acquires Alliance Data Utilities, an Interview with John Hall @ RiskCenter: A Financial Risk Management Media Company |publisher=Riskcenter.com |access-date=2010-07-01}}
• 2011: Aspen Marketing Services was acquired by Alliance Data (to be a part of Epsilon).{{cite press release|url=http://www.prnewswire.com/news-releases/alliance-datas-epsilon-business-to-acquire-aspen-marketing-services-the-nations-largest-independently-owned-marketing-services-agency-120594154.html |title=Alliance Data's Epsilon Business to Acquire Aspen Marketing Services |publisher=prnewswire.com |access-date=2012-07-18}}
• 2012: Alliance Data acquired the $475 million private label credit card portfolio of The Bon-Ton Stores, Inc.{{cite news|url=https://www.reuters.com/article/us-alliancedata-bonton-idUSBRE85I0OX20120619 |title=Alliance Data to buy Bon-Ton's credit card portfolio |publisher=Reuters |date= 2012-06-19|access-date=2012-06-19}}
• 2012: Epsilon acquires Hyper Marketing and agencies Ryan Partnership & Catapult.{{cite web|url=http://www.dmnews.com/epsilon-goes-omnichannel-with-its-acquisition-of-hyper-marketing/article/267757/ |title=Epsilon goes omnichannel with its acquisition of Hyper Marketing |publisher=DMNews |date=2012-11-09}}
• 2014: AD acquired Conversant Formerly known as ValueClick; Conversant specialized in the affiliate marketing business, which revolved around video and mobile channels.{{cite web |last1=Kaye |first1=Kate |title=Epsilon CEO: Buying Conversant Will Help Connect Cross-Channel Dots |url=https://adage.com/article/datadriven-marketing/epsilon-ceo-conversant-buy-boost-cross-channel-chops/294957 |website=Ad Age |date=September 16, 2014}}{{cite web |last1=Garland |first1=Chad |title=Alliance Data to acquire Conversant for $2.3 billion |url=https://www.latimes.com/business/realestate/la-fi-conversant-sale-20140912-story.html |website=Los Angeles Times |date=September 11, 2014}}
• 2014: Alliance Data acquires BrandLoyalty.{{cite web |url=http://www.brandloyalty-int.com/en-GB/press-%26-events/press-releases/id-498/alliance-data-acquires-60-percent-of-brandloyalty/ |title=Alliance Data Acquires 60 Percent of BrandLoyalty |publisher=BrandLoyalty |date=November 6, 2013 |access-date=2015-02-04 |archive-url=https://web.archive.org/web/20150204172540/http://www.brandloyalty-int.com/en-GB/press-%26-events/press-releases/id-498/alliance-data-acquires-60-percent-of-brandloyalty/ |archive-date=2015-02-04 |url-status=dead }}
• 2014: Epsilon acquires Conversant, formerly ValueClick.{{cite web|url=http://adage.com/article/datadriven-marketing/epsilon-ceo-conversant-buy-boost-cross-channel-chops/294957/ |title=Alliance Data to Acquire Conversant, Formerly ValueClick, for $2.3 Billion |publisher=AdvertisingAge |date=September 16, 2014}}
• 2019: Alliance Data sells off Epsilon to Publicis for $4.4B.{{Cite web|url=https://www.thestreet.com/investing/publicis-groupe-to-acquire-epsilon-unit-of-alliance-data-systems-14926519|title=France's Publicis Groupe to Acquire Alliance Data Systems' Epsilon for $4.4B|last=Constable|first=Simon|date=2019-04-15|website=TheStreet|language=en|access-date=2019-04-21}}
• 2019: Alliance Data acquired Lon Operations Inc., a digital payments company operating under the trademark Bread.{{cite press release|url=https://www.prnewswire.com/news-releases/alliance-data-signs-definitive-agreement-to-acquire-bread-301162702.html |title=Alliance Data Signs Definitive Agreement to Acquire Bread |publisher=prnewswire.com |access-date=2020-01-14}}
• 2020: Alliance Data closes Bread deal in December.{{cite web |title=Alliance Data (ADS) Acquires Bread to Boost Digital Offerings |url=https://www.yahoo.com/now/alliance-data-ads-acquires-bread-145202540.html |website=Yahoo |date=December 7, 2020}}

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Category:Marketing companies established in 1996

Category:American companies established in 1996

Category:Companies based in the Columbus, Ohio metropolitan area

Category:Companies listed on the New York Stock Exchange

Category:Customer loyalty programs

Category:Data brokers

Category:Data collection