Cendant to Sell Marketing Services Unit for $1.83B

Share this content:
Cendant Corp. will sell its marketing services division -- a key direct marketer of membership clubs and insurance products -- for nearly $1.83 billion to an affiliate of Apollo Management L.P., the travel services to real estate giant said yesterday.


The sale, to Apollo's Affinity Acquisition Holdings LLC unit, is part of Cendant's repositioning begun last year to focus more on real estate brands like Century 21 and travel services like the Avis car rental business.


Cendant, New York, said the deal should close in the fall after gaining financing and regulatory approvals as well as meeting customary closing conditions.


The sale follows last year's spinoff of Cendant's Jackson Hewitt Tax Services business. Part of the proceeds were used for the $1.25 billion purchase of online travel site Orbitz Inc. Cendant earlier this year spun off mortgage and fleet vehicle firm PHH Corp.


Cendant's marketing services division, based in Norwalk, CT, generated $1.5 billion in revenue last year from membership clubs and insurance products. The portfolio includes brands like Trilegiant, Progeny and Cims. The division, whose results Cendant classified as discontinued operations, has 3,600 employees in the United States and Europe. Cendant has nearly 85,000 employees worldwide.


close

Next Article in Data/Analytics

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here