Chase to Acquire Innovative Silicon Valley Start-Up Bloomspot, Inc., Expands Capabilities in Merchant Offers

  Chase to Acquire Innovative Silicon Valley Start-Up Bloomspot, Inc., Expands
  Capabilities in Merchant Offers

Business Wire

NEW YORK -- December 20, 2012

Chase Bank USA, NA, a subsidiary of JPMorgan Chase & Co. (NYSE: JPM) and
Bloomspot, Inc. today announced that they have signed an agreement and plan of
merger whereby Chase will acquire Bloomspot, a provider of targeted merchant

“Chase has millions of strong relationships with consumers and merchants, and
we are committed to building value in those relationships,” said Jeff Kinder,
president of Chase Offers. “Merchant partners are continually looking for ways
to engage the right customers, and consumers have shown a clear interest in
receiving offers from their favorite merchants. We believe Chase has a unique
set of assets to bring these customers together and deliver highly targeted,
relevant merchant offers at scale.”

“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,” Kinder said. “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.”

“Creating long-term relationships between merchants and customers has always
been at the core of our business,” says Jasper Malcolmson, CEO of Bloomspot.
“Bloomspot has succeeded by building a technology platform that delivers the
most relevant offers to its members, as well as delivering and measuring
customer loyalty for merchants. Together with Chase, we have the opportunity
to leverage our technology to realize that success at a much larger scale.”

The acquisition is expected to close in early 2013. Terms have not been

About Bloomspot:

Bloomspot ( is a leading offers provider whose technology
platform has addressed key issues in merchant marketing. Bloomspot has created
a sustainable model for its merchants by measuring and rewarding consumers’
loyalty. By earning the participation of the best merchants, Bloomspot
delivers a superior experience for its members.

About Chase:

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase &
Co. (NYSE: JPM), a leading global financial services firm with assets of $2.3
trillion and operations in more than 60 countries. Chase serves more than 50
million consumers and 4 million small businesses through more than 5,500 bank
branches, 17,500 ATMs, credit cards, mortgage offices, and online and mobile
banking as well as through relationships with auto dealerships. More
information about Chase is available at


Chase Card Services
Paul Hartwick, 302-282-1100
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