Quantum Loyalty set to be acquired by Fandango
Fandango, a household name to most moviegoers, is acquiring Quantum Loyalty Solutions Inc., a promotions and marketing company based in Incline Village.
The details of the deal were not disclosed but the acquisition is expected to close next month, Fandango executives said last week. Quantum is privately owned by a handful of investors, the largest of which is founder and chief executive officer Ron Randolph-Wall. He is retiring.
Fandango, which hosts a Web site visited monthly by 41 million moviegoers who go there to find movie times and purchase tickets prior to showing, is owned by NBCUniversal Inc.
Quantum works with major consumer companies such as McDonald’s, Gillette and Nabisco to provide promotional product tie-ins to popular movies such as “Iron Man 3,” “Man of Steel,” and “Despicable Me 2.” The company is known for its Hollywood Movie Money, a currency used to buy movie tickets in 36,000 theaters. Through the currency redemptions, Quantum is able to track the success of a customer’s promotional program.
“We’re a small and scrappy company that’s done a lot of good things for the industry, and this will allow us to go the next step,” says Jason Davis, general manager of Quantum Rewards,. “Fandango is a great brand to align with, with a strong platform both technically and operationally.”
Part of that next step, and utilizing Fandango’s platform, will be to let consumers now redeem their Quantum movie money when buying tickets online. That’s important feature, especially for movies that sell out on opening weekend, says Davis.
Fandango has deals with theater chains, including the Regal Cinemas, the nation’s largest chain, which allows moviegoers to advance-purchase tickets at 21,000 screens.
Davis said Quantum and its 30 employees in Incline Village will remain with the company after the acquisition.
You can become a part of the Assistance League® Reno-Sparks’ story by supporting its new fundraiser on March 7 at the Atlantis Casino Resort Spa Reno.