To further enhance the power of its global rewards platform, branded payments provider Blackhawk Network (BHN) confirmed that it has entered into a definitive agreement to acquire digital B2B gift card rewards innovator Tango Card.
Talbott Roche, CEO & president of BHN, said Tango was a perfect fit to complement their operations.
“We have been a longtime partner to Tango and were also an early investor. We are thrilled with the opportunity to combine the best of BHN with the best of Tango to provide leading, global, scalable solutions and innovation to the rewards and incentives industry.”
This strategic acquisition allows customers of BHN and Tango to experience Tango’s innovative B2B incentives platform and customer support, “magnified by the industry-leading scale, global connectivity and expertise of BHN.”
David Leeds, Tango’s founder and CEO, said joining BHN provides a once-in-a-company opportunity to continue innovating in this space, better support their customers’ evolving global needs.
The rewards and incentives space “has experienced significant interest and investment over the last decade. Tango’s growth equity investor, FTV Capital, first invested in Tango in 2018. Since that time, Tango has grown 800%.”
The Tango acquisition marks “the second time FTV and BHN have partnered on an acquisition.”
The waiting period under “the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired and there are no remaining antitrust approvals.”
The transaction remains subject to regulatory approvals “relating to money transmitter licenses and is projected to close later this year.”
Visit Tango online to learn more about its solutions and use cases, “including HR and employee retention, market research, wellness program rewards, marketing and customer engagement, sales incentives and more.”