Silver Lake & P2 Capital Partners Set to Acquire California Fintech BlackHawk Nework Holdings For $3.5 Billion

U.S. fintech firm Blackhawk Network Holdings announced on Tuesday it is set to be acquired by private equity firm Silver Lake and hedge fund P2 Capital Partners For $3.5 billion, including debt. Founded in 2001, Blackhawk Network stated it has developed new ways to give, receive, and use “branded value” (i.e. gift cards, digital payments, loyalty points) around the world. Blackhawk Network has more than 1,000 employees and currently offers products and services in the U.S. and 24 other countries around the globe.

“Blackhawk Network understands today’s crowded marketplace. We began in the very heart of the retail industry—grocery—where brands have long competed on crowded shelves for customer attention and affection. In 2001, Blackhawk invented a whole new way for brands and retailers to motivate consumers when we launched third-party retailing of gift cards. Through our continued expansion into B2B, B2C, digital settings and international markets, we’ve developed a complete suite of branded value solutions for businesses.”

The company also developed Hawk Incentives, which is described as a division of Blackhawk that’s dedicated to providing customized engagement, incentive, and rebate programs for customers, employees, and sales channels.

According to Reuters, Blackhawk Network’s offer is $45.23 per share and represents a 24% premium to the stock’s Friday closing price. The deal includes a $1.7 billion equity commitment from Silver Lake and Sandler O’Neill & Partners was BlackHawk’s financial adviser.

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