BMO completed the acquisition of AIR MILES reward program from LoyaltyOne for $160m.

BMO, a financial services firm, completed the acquisition of AIR MILES reward program, Canada's most recognized loyalty program, from LoyaltyOne, a provider of loyalty marketing services, for $160m. “The future is bright for AIR MILES, and this is a significant step forward for collectors and partners all across Canada. We look forward to bringing a heightened energy and excitement to the program with the introduction of new enhancements that will enrich collectors’ experience and strengthen the value our program brings to their lives," Shawn Stewart, AIR MILES President.