Blackhawk Bolsters Incentives Business with Achievers Corp. Buy (June 12, 2015)
Blackhawk Network is bolstering its employee incentives business with its latest acquisition, the fifth in the space since 2013. The Pleasanton, Calif.-based payments company announced yesterday it has entered into a definitive agreement to acquire recognition platform provider Achievers Corp.
“Achievers’ award-winning employee recognition platform is a complementary addition to our employee engagement portfolio and will enhance Blackhawk’s leadership position in the corporate incentives market,” said Talbott Roche, Blackhawk Network’s president.
Achievers’ Employee Success Platform is a cloud-based platform that increases employee engagement and drives business success through social recognition and rewards. The platform enables employees to recognize each other in real time from any desktop, mobile or tablet device. The Employee Success Platform delivered more than 7 million employee recognitions in 2014 and has fulfillment capabilities in more than 110 countries.
Earlier this year Blackhawk launched a new incentives division, Blackhawk Engagement Solutions, following acquisitions of parago, InteliSpend, CardLab and Incentec Solutions.
Blackhawk plans to finance the purchase using cash on hand and expects the acquisition to be earnings neutral in fiscal 2015 and earnings accretive in 2016, according to the release. The transaction is expected to close by June 30, 2015, subject to customary closing conditions.
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