Fandango to acquire Incline Village company
RENO, Nev. — 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 website 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 an 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.
Support Local Journalism
Support Local Journalism
Readers around Lake Tahoe, Truckee, and beyond make the Sierra Sun's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User