On March 31, 2004, Points International Ltd., the only independent loyalty exchange service and operator of The Points Exchange at www.points.com, acquired substantially all of the assets of MilePoint, Inc., a loyalty program technology provider and operator, for $7.5 million.  The purchase price was satisfied through $3.5 million in cash and 4 million common shares of Points International. 

Points International was represented in the transaction by a team from Davies Ward Phillips & Vineberg LLP comprised of Steven Harris, Darren Wasylucha (corporate & securities) and Marc Shewchun (intellectual property) from the Toronto office and Christian Lucky (securities) from the New York office.