Gift card provider Blackhawk Network announced today that it has agreed to acquire employee recognition firm Achievers Corp.
The acquisition is the latest development from prepaid and payment solutions firm Blackhawk, which in January launched its new incentive division, Blackhawk Engagement Solutions
, a global provider of customized incentive and engagement solutions for consumer promotions, direct and indirect sales channel incentive programs, and employee rewards.
This is the latest development from Blackhawk, which has recently acquired several other companies in the incentive and engagement space, including parago, InteliSpend, CardLab, and Incentec Solutions.
Talbott Roche, Blackhawk Network's president, emphasized that Achievers' cloud-based Employee Success Platform complements the company's existing portfolio.
"Blackhawk's heritage is providing innovative prepaid products, solutions and technology to meet the needs of consumers, employees and corporations," said Roche, in a statement. "The Achievers platform will expand our customers' ability to engage employees with the best rewards, in the right places to drive organizational alignment."
The Employee Success Platform uses social recognition and rewards to encourage workers to recognize each other in real time, and on any device -- whether desktop, mobile, or tablet. In 2014 alone, the platform facilitated some seven million employee recognitions and is currently available in more than 110 countries.
"This is such an exciting moment for Achievers and I couldn't imagine a better pairing than Achievers and Blackhawk Network," added Eric Lochner, Achievers president and CEO. "We have found an incredible partner who shares our mission to change the way the world works and we're confident that our customers will benefit significantly from the expanded reach, products and services that Blackhawk has to offer."
Bill Tauscher, CEO of Blackhawk Network, added, "Achievers fits extremely well with our overall direction and vision, and we are excited to welcome the organization to Blackhawk Network."
Blackhawk will hold a conference call and webcast at 9 AM EST on Friday, June 11, to discuss the transaction, hosted by Tauscher, Roche, and Jerry Ulrich, chief financial and administrative officer. It can be accessed at ir.blackhawknetwork.com