Canada-based investment holding company Aimia Inc. (TSX: AIM) has announced that, along with Cognitive Corporation, it intends to vigorously defend themselves against an application for injunctive relief filed today with the Quebec Superior Court (Civil Division) in the District of Montreal by Air Canada and Aeroplan, the company said.
The application relates to the proposed combination of Aimia´s Loyalty Solutions business, which includes Intelligent Shopper Solutions (ISS) and the Air Miles Middle East program, with a subsidiary of Kognitiv, a Waterloo-based B2B technology company, which was announced on April 29, 2020.
The application alleges that the transaction will result in breaches of certain non-competition and confidentiality provisions entered into by Aimia in connection with the sale of Aeroplan in November 2018.
Aimia denies the allegations and believes the application is entirely without merit and an abuse of process. Aimia and Kognitiv intend to close the transaction during the week of June 8, 2020.
Aimia Inc. (TSX: AIM) has a focus on long-term investments in public and private companies, on a global basis, through controlling or minority stakes.
The company operates a loyalty solutions business, which is a well-recognized, global full-service provider of next-generation loyalty solutions for many of the world´s leading brands in the retail, CPG, travel & hospitality, financial services and entertainment verticals.