PLEASANTON, Calif., Sept. 15, 2014 /PRNewswire/ -- Blackhawk Network announced that it has completed the acquisition of Dallas, Texas-based CardLab, Inc., a leading online provider of customizable prepaid incentive and rewards cards. The deal is part of Blackhawk's strategy to extend its prepaid card solutions from physical and online retail channels into the B2B channels that issue incentives and rewards to consumers, customers and employees.
CardLab, through its IncentiveCardLab.com website, offers a variety of prepaid cards intended to suit every business purpose and budget, ranging from custom logo Visa Incentive Cards, restaurant and retail store gift cards to e-gift cards, all of which can be sent to a recipient via e-mail or SMS text message. CardLab's easy-to-use custom card design and distribution services make it simple, fast and affordable to send prepaid incentive cards in any denomination from $5 to $2500. The fully automated website also allows businesses to upload their corporate logos or customize existing incentive card designs for a more personal touch.
"Blackhawk is focused on democratizing incentive tools and making corporate prepaid products available across businesses of all sizes, especially in a competitive e-commerce ecosystem," said Talbott Roche, Blackhawk Network President. "Dave Jones and his team at CardLab have built a highly customized solution for businesses that enables easy-to-place orders and fast delivery. This automated and convenient solution provides great flexibility for small and medium-sized businesses. It also offers a quick and easy way for department heads of larger companies to meet their immediate needs for smaller scale, customized customer 'thank you' rewards, employee incentives or event giveaways. The opportunities ahead obviously have us very excited."
"Blackhawk is one of the most trusted leaders in prepaid, and CardLab's position within the B2B space naturally complements Blackhawk's strengths in corporate incentives for businesses, large or small," said Dave Jones, CardLab CEO. "We have admired Blackhawk's business and how they've pioneered this industry. To be joining Talbott as an industry leader and the entire Blackhawk team is a perfect fit."
CardLab will operate as a business unit of Blackhawk Network's InteliSpend business. David Jones, the CEO of CardLab, will report to Sheree Thornsberry, General Manager of the InteliSpend business.
CardLab is expected to be earnings neutral to Blackhawk's financial results for the remainder of fiscal 2014.
About Blackhawk Network
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK and HAWKB) is a leading prepaid and payments network, which supports the program management and distribution of gift cards, prepaid telecom products and prepaid financial service products across a global network. Blackhawk's digital platform supports prepaid products across a network of digital distribution partners including retailers, financial service providers, and mobile wallets. For more information please visit www.blackhawknetwork.com.
IncentiveCardLab.com is one of the largest online stores focused solely on prepaid incentive cards with hundreds of brands and thousands of designs. It is a one-stop shop offering popular retail gift cards, VisaIncentive Cards and e-Gift cards, which can be delivered by email or text message. IncentiveCardLab.com currently supports over 9,000 corporate clients, from small businesses to Fortune 500 companies, with employee rewards, sales incentives, marketing promotions and customer loyalty programs.
Forward Looking Statements
This press release contains certain forward-looking statements that are indicated by words such as "expects," "will," "plans," "intends," "committed to," "focused on," "estimates" and "is." Forward-looking statements are based on our current plans and expectations and involve risks and uncertainties that in many instances are beyond our control. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. Neither Blackhawk nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. Various factors could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond Blackhawk's control. Blackhawk undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information please refer to Blackhawk's most recent Form 10-K, 10-Q and 8-K reports filed with the SEC.
SOURCE Blackhawk Network