Blackhawk Network has acquired digital gift card provider CashStar, in a deal worth $175m.
CashStar is a gift card commerce platform which helps boost revenue, reduce cost and optimise customer experience for retailers. The company clients include Walmart, Uber, Toys R Us, Starbucks, Best Buy, among others.
Blackhawk offers a variety of prepaid and payment products, across the retail, e-commerce, financial services and mobile wallets sectors.
Following the transaction CashStar will become a part of Blackhawk digital and incentives businesses, which means the CashStar will still be led by Ben Kaplan, but he will report to Blackhawk Digital and Incentives general manager David Jones.
CashStar CEO and president Ben Kaplan said, ?Joining forces with Blackhawk will help us deliver even more powerful capabilities and new revenue opportunities for our clients and partners.
?Together, we can provide merchants with unified end-to-end solutions for B2B and B2C gift card distribution. The combination of our platform and Blackhawk product breadth and global reach creates innovative new applications for branded value and mobile payments.p>
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