Expanding its Digital Gifting and Distribution Offering with the Best-in-Class Platform
LOUISVILLE, Ky., Feb. 19, 2019 /PRNewswire/ -- Stored Value Solutions (SVS), a leader in gift card processing and program management, announced today that it has completed the acquisition of Buyatab, a leading international provider of online gift card solutions. The acquisition further solidifies SVS's industry leading position in the emerging digital gifting space, providing its customers with what we believe is the best solution to sell more gift cards online.
"Digital gift card sales have more than doubled in the past three years and are becoming critical to the success of retail gift card programs," says Mark Schatz, President of SVS. "With the acquisition of Buyatab, we will enhance our capabilities to make digital gifting just as compelling as purchasing and receiving a physical gift card."
Vancouver, Canada based Buyatab offers major global retailers the ability to sell gift cards online to both consumers and other businesses. In addition to their commerce solutions for digital gifting, they also help distribute gift cards to major incentive and loyalty programs, adding third party gift card purchasing channels for their customers.
"Joining forces with SVS will help us deliver even more powerful, intelligent resources to a broader base of retailers," says Matias Marquez, President of Buyatab. "There are advances in data intelligence and delivery that can only be made when aligned with a world-class gift card processor like SVS. We are ready to accelerate the growth in this space and bring these advancements to market."
Blake, Cassels & Graydon LLP served as legal counsel to SVS. Portico Capital Securities LLC served as exclusive financial advisor and Lawson Lundell LLP served as legal counsel to Buyatab.
About SVS: As a leading prepaid provider, SVS manages more than 700 hundred million card products and processes over 1.5 billion transactions annually. SVS partners with top retailers around the world to offer stored value solutions and effectively drive behaviors that will lead to business success. SVS is headquartered in Louisville, Kentucky, USA, and owned by Atlanta-based FLEETCOR Technologies, Inc. (NYSE: FLT). For more information, please visit: www.storedvalue.com.
About Buyatab Buyatab is a leading provider of advanced online gift card infrastructure solutions for medium and large-sized businesses. Buyatab provides a seamless solution for gift cards to be purchased from a merchant's online properties and delivered to recipients via email or text message, leveraging the rapid growth in mobile device and social media use. Buyatab's technology has full compatibility with mobile wallets such as Apple Wallet and Google Pay. With clients in the United States, Canada, and Europe, Buyatab provides eGift Card services to merchants in a wide variety of sectors, including retail, hospitality, restaurant, shopping, hotel and others. For more information, please visit: www.buyatab.com.