Today, global branded payments provider Blackhawk Network announced that it has completed its acquisition of SVM Cards, a provider of physical and digital open- and closed-loop prepaid cards.
The acquisition broadens Blackhawk’s prepaid and gift card offerings by adding issuance of closed-loop cards including several leading fuel and other brands to its U.S. catalogs, as well as continuing to expand Blackhawk’s significant incentives and B2B gift card services. In addition, SVM’s customer base can now benefit from Blackhawk’s omni-channel commerce, leading digital products and incentive solutions.
“We are continually seeking opportunities to expand our branded payment solutions for our partners and offer additional content and services,” said Talbott Roche, CEO and president of Blackhawk Network. “Blackhawk is a leader in providing businesses with a vast range of gift card and reward solutions. Combining SVM’s extensive brand relationships, and incentive and B2B clients with our broad network delivers an exciting addition to our offerings. We are thrilled to welcome SVM’s partners to our network.”
“Blackhawk has an impressive global footprint which enables us to access expanded distribution channels, digital gifting, original content and promotion solutions and bolster the offerings our partners can get from a single source. With Blackhawk, we look forward to continuing to grow our existing customer relationships and seeking new ones,” said Marshall Reavis, founder and CEO of SVM. “Branded payments like gift cards are powerful tools to drive engagement, and ensuring we have the means to deliver them as efficiently as possible helps our company—and our clients’ businesses—to stand apart. The SVM team looks forward to joining the Blackhawk team and continuing to serve our clients.”
Piper Sandler served as exclusive financial advisor to SVM on the transaction.