GSI Commerce Signs Multiyear Extension to Service Loyalty Program for Leading, Global Financial Services Company
KING OF PRUSSIA, Pa., – Dec. 21, 2007 – GSI Commerce Inc. (Nasdaq: GSIC), a leading provider of e-commerce solutions, today announced that it has signed a multiyear contract extension with a global financial services company to continue servicing that company’s loyalty program in the United States.
Under terms of the agreement, GSI will continue to manage the loyalty program’s order processing and fulfillment, which includes coordinating shipping with loyalty vendors, as well as managing all of the creative and custom printing services associated with the redemption of the program’s gift cards and gift certificates. As part of the fulfillment operation, GSI also provides a Web site that functions as a vendor hub for loyalty program partners.
The relationship was originally established with Accretive Commerce four years ago, and last year won accolades from the financial services company for providing operational leadership and innovation. In September, Accretive was acquired by GSI. The multiyear extension is the financial services company’s first as a GSI partner.
“We are very proud to renew and continue the relationship with this premier, global brand in financial services. We also welcome them as a new GSI partner and we look forward to adding new value as we continue to help them grow their business,” said Scott Hardy, GSI executive vice president of business management.
About GSI Commerce
GSI Commerce® is a leading provider of e-commerce solutions that enable retailers, branded manufacturers, entertainment companies and professional sports organizations to operate e-commerce businesses. We provide solutions for our partners through our integrated e-commerce platform, which is comprised of four components: technology, customer care, fulfillment and marketing services. We provide e-commerce solutions for approximately 85 partners.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made in this release, other than statements of historical fact, are forward-looking statements. Actual results might differ materially from what is expressed or implied by these forward-looking statements. Additional information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the SEC. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements.
###
