History
Alliance Data was formed from the December 2, 1996, merger of two entities: J.C. Penney's credit card processing unit and The Limited's credit card bank operation, named World Financial Network National Bank.
In August 1998, Alliance Data acquired LoyaltyOne, then-branded The Loyalty Group Canada, for $250 million. The deal gave Alliance Data two valuable business enhancements, Canada's Air Miles Rewards Program and the company behind the popular Air Miles program, LoyaltyOne.
On May 17, 2007, Alliance Data and The Blackstone Group (a private equity firm) announced plans for Alliance Data to be acquired by The Blackstone Group. In April 2008, Alliance Data terminated the merger agreement with Blackstone Affiliates.
Ed Heffernan was promoted to president and CEO of Alliance Data in February 2009, after being with the company since 1998.
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