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.