Circles, a leading loyalty services company, announced today that it has agreed to be acquired by Sodexho Alliance, a US$18.8 billion multinational company with a strong presence in North America and around the world. Terms of the transaction were not disclosed.

Headquartered in Boston, MA, Circles creates and delivers concierge, personal assistant, experience and event programs for its clients, including Fortune 1000 companies and some of the most recognized brands in the world. These companies provide Circles programs to their customers and employees, driving customer and employee acquisition, retention and loyalty.

This acquisition reinforces Sodexho's expertise in Quality of Life services and will provide strong synergies for Sodexho and Circles in all Sodexho's client segments in North America. Bruno Vanhaelst, in charge of business development at Sodexho, notes that "We've chosen to partner with Circles because their expertise in delivering programs that directly improve quality of life is unparalleled."

"Sodexho identified Circles, with our unique capabilities, dominant market position and incredible team of 750+ employees, as their desired strategic partner, and we could not be more pleased," says Kathy Sherbrooke, Circles' President and co-founder. "We are so fortunate to have in Sodexho a strong strategic partner who is committed to a future of growth and opportunity."

Janet Kraus, Circles CEO and co-founder, notes the importance of the cultural fit between the companies. "Sodexho's mission and values are remarkably well aligned with Circles' mission and values, which was very important to our decision to ally with them. We are extremely excited about Circles future as part of the Sodexho community."

Following the consummation of the transaction, Circles will operate as a free-standing subsidiary of Sodexho. Kathy Sherbrooke, will become CEO, effective at the closing of the transaction. Simultaneously with the closing of the acquisition, Circles will spin out its subsidiary, Spire. Janet Kraus will be CEO of Spire, which will operate as an independent entity. Ms. Kraus will continue to be a member of Circles' Board of Directors.