(RTTNews) - Alliance Data Systems Corp. (ADS), a provider of data-driven marketing, loyalty and payment solutions, said it has agreed to acquire Bread, a technology-driven digital payments company that partners with retailers to personalize payment options for their customers.
The transaction is valued at an estimated consideration of $450 million, including about $100 million in Alliance Data common stock. The transaction is anticipated to close in the fourth quarter of 2020 and expected to be accretive by no later than year three.
Alliance Data noted that the point-of-sale technologies provided by Bread include installment and buy now, pay later solutions.
The addition of Bread's technology platform will expand Alliance Data's payment offering to include pay-over-time products, which are expected to be available for Alliance Data brand partners soon.
Upon closing of the transaction, Alliance Data will welcome Bread's approximately 185 employees and more than 400 Bread installment loan or buy now, pay later clients.
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