Monday 20 May 2019

Loyaltybuild sold off by its US owner

Loyaltybuild never recovered from the cyberattack. Stock image
Loyaltybuild never recovered from the cyberattack. Stock image

Gordon Deegan

A loyalty programme business that was the victim of a "very sophisticated cyberattack" five years ago has been sold on by its American owner, Affinion.

Loyaltybuild - which had its Irish HQ in Ennis, Co Clare - never recovered from the cyberattack.

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In 2016, it announced 37 redundancies at its Ennis base and lost a significant customer at the end of 2016.

The firm no longer has a presence in Ennis and new accounts filed by Loyaltybuild Ltd confirm that the Irish trade of Loyaltybuild was sold on to an interested party on October 26 2018.

The sale resulted in an impairment charge of €900,000 contributing to pre-tax losses of €9.84m in 2017

The pre-tax loss in 2017 coincided with revenues decreasing by 34.5pc from €25.98m to €17m in 2017.

The company's Irish revenues in 2017 were €2.84m.

Irish Independent

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