Blackhawk Network has announced a definitive agreement under which Blackhawk will acquire all outstanding shares of Parago, Inc. for approximately $290 million. The buyout will add additional capabilities to Blackhawk’s incentive solutions business.
Parago provides global incentive and engagement solutions that drive customer acquisition, employee retention and enable and engage channel sales partners. Its client roster includes more than 250 customers, including Fortune 100 companies, multi-national corporations and global consumer brands.
Parago will operate as a subsidiary of Blackhawk Network and will remain headquartered in Dallas, Texas. Juli Spottiswood of Parago will lead Blackhawk’s incentive business and report to Talbott Roche, Blackhawk Network president.
“Blackhawk has continued to grow its business solutions in the prepaid payment industry around the world,” said Bill Tauscher, Blackhawk’s chief executive officer. “Adding Parago into our portfolio is a significant step forward for Blackhawk’s expansion plans in the large but fragmented incentives market.”
“Blackhawk brings an unprecedented opportunity for scale and globalization in the incentive and loyalty space, access to well‐established prepaid content partnerships, as well as new digital and mobile technologies,” said Juli Spottiswood, president and CEO of Parago. “As part of Blackhawk, we believe all our partners and customers will benefit from our expanded capabilities, products and services.”
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