Blackhawk Network Acquires Solterbeck Performance
Australian-based provider of employee engagement and customer engagement services will expand Blackhawk’s growing incentives business portfolio in the Asia-Pacific region.
SYDNEY – August 3, 2017 – Blackhawk Network Holdings, Inc., a global financial technology company and a leader in connecting brands and people through branded value solutions (“Blackhawk”), announced today that it has acquired Solterbeck Performance Pty Ltd (“Solterbeck Performance”), an Australian-based performance improvement company that provides employee and customer engagement solutions.
Solterbeck Performance is one of Australia’s leading providers of reward, recognition and incentive solutions. The company has extensive industry experience and a proven track record of success with more than 120,000 people using its engagement programs annually in the employee and channel incentives markets.
The acquisition enhances Blackhawk’s solutions for clients requiring employee recognition, reward and channel incentive solutions in the Asia-Pacific region, and strengthens its position as a global leader. It also complements and expands the existing client portfolio of Blackhawk’s incentives and engagement business, which has grown through several acquisitions in recent years. Most recently, in 2016, Blackhawk also acquired Grass Roots Group Holdings Ltd. (Grass Roots), a leading provider of employee and customer engagement solutions with headquarters in the United Kingdom, and offices in Europe, the Americas and Asia.
“The ability to retain, engage and motivate people is a critical business challenge and opportunity for businesses in this region. Blackhawk’s acquisition of Solterbeck Performance provides industry-leading employee recognition, reward and channel incentives with a whole new scale to the market,” said Stewart Rigby, group vice president, Asia Pacific at Blackhawk Network. “We can now provide an integrated prepaid card and an end-to-end incentive and engagement portfolio of solutions to a very broad market across Asia-Pacific.”
“Joining Solterbeck Performance with Blackhawk and Grass Roots Australia gives us new scope advantages and more robust tools for Australian and International companies looking to better engage and reward their people,” said Sue Jackson, executive chairman at Solterbeck Performance. “We are confident that our customers and partners will benefit greatly from the partnership.”
￼Incentive travel, conference and event management company Solterbeck Travel Pty Ltd (“Solterbeck ￼Travel”) remains under the ownership of Sue Jackson and David Jackson. Solterbeck Travel will continue ￼to work in partnership with Solterbeck Performance and Blackhawk on behalf of their clients.
￼Blackhawk’s growth in the Asia-Pacific region is just one facet of its overall employee rewards and ￼incentives portfolio. Blackhawk’s Hawk Incentives division delivers incentive programs that build ￼relationships with easy-to-use platforms, global rewards and comprehensive service and support. Its ￼solutions include consumer, sales, channel and employee incentive programs. In addition, Blackhawk has made several additional acquisitions since 2014 that have further expanded its incentives business in the U.S., including Achievers, a leading provider of employee recognition and rewards solutions designed to help companies increase employee engagement and drive business performance. Grass Roots and Solterbeck Performance’s offerings will complement the Achievers enterprise software-as-a- service solution.
Solterbeck Performance is operating as a subsidiary of Blackhawk with Stewart Rigby leading its Asia- Pacific operations.
About Blackhawk Network
Blackhawk Network Holdings, Inc. (NASDAQ: HAWK) is a global financial technology company and a leader in connecting brands and people through branded value solutions. Blackhawk platforms and solutions enable the management of stored value products, promotions and incentive programs in retail, ecommerce, financial services and mobile wallets. Blackhawk’s Hawk Commerce division offers technology solutions to businesses and direct to consumers. The Hawk Incentives division offers enterprise, SMB and reseller partners an array of platforms and branded value products to incent and reward consumers, employees and sales channels. Headquartered in Pleasanton, Calif., Blackhawk operates in 26 countries. For more information, please visit blackhawknetwork.com, hawkcommerce.com, hawkincentives.com or our product websites giftcards.com, giftcardmall.com, cardpool.com, giftcardlab.com and omnicard.com.
About Solterbeck Performance
Solterbeck Performance has pioneered employee recognition and sales and channel incentives in Australia. With over 25 years of experience, we have proved time and time again that a workforce’s attitude, behaviours and culture can all be significantly improved by engaging them in a powerful and positive way. To improve business results, we inspire people to perform at their best by developing results-oriented strategies that increase engagement and improve discretionary performance. Drawing from world’s best practice and the latest technology we deliver highly effective:
– Employee recognition programs
– Sales and channel incentives
– Internal communications
– Reward and recognition fulfilment
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are indicated by words or phrases such as “guidance,” “believes,” “expects,” “intends,” “forecasts,” “can,” “could,” “may,” “anticipates,” “estimates,” “plans,” “projects,” “seeks,” “should,” “targets,” “will,” “would,” “outlook,” “continuing,” “ongoing,” and similar words or phrases and the negative of such words and phrases. Forward-looking statements are based on Blackhawk’s current plans and expectations and involve risks and uncertainties which are, in many instances, beyond its control, and which could cause actual results to differ materially from those included in or contemplated or implied by the forward-looking statements. Such risks and uncertainties include, without limitation, ￼Blackhawk’s ability to successfully integrate the acquired business and solutions; unanticipated costs related to the acquisition; whether demand for solutions for clients seeking employee recognition, reward and incentive solutions in the Asia-Pacific region grows as anticipated; the competitive environment in the industry and competitive response to the acquisition; general market and business conditions; and the accounting impact of the acquisition. Other factors that could cause or contribute to such differences include, but are not limited to, those described in Blackhawk’s reports and filings with the Securities and Exchange Commission (the “SEC”), including the risks and uncertainties set forth in Item 1A under the heading “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2016 and other subsequent periodic reports it files with the SEC. Furthermore, such forward-looking statements speak only as of the date of this press release. Blackhawk undertakes no obligation to update forward-looking statements to reflect developments or information obtained after the date hereof and disclaim any obligation to do so other than as may be required by law.