JPMorgan acquires cxLoyalty Group Holdings' loyalty business

JPMorgan Chase & Co. completed its acquisition of the global loyalty division of cxLoyalty Group Holdings Inc.

CxLoyalty will operate as a business unit within JPMorgan under the global customer engagement division and will be based in Stamford, Conn.

The transaction includes cxLoyalty's technology platforms, full-service travel agency, gift card, merchandise and points bank businesses. The deal excludes cxLoyalty's global customer engagement division and other ongoing businesses.