Blackhawk Network announced that it has completed the acquisition of Dallas, Texas-based CardLab, Inc., and online provider of prepaid and rewards cards. The move comes as part of Blackhawk’s overall transition to expand their business beyond the physical retailer into B2B channels that see cards used as inentives and rewards for employees, consumers and customers.
Through the IncentiveCardLab.com website,the newly aquired company offers a variety of prepaid cards from custom logo Visa Incentive Cards, restaurant and retail store gift cards to fully digital cards which can be sent via email or text.
“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.”
Going forward, CardLab will operate as a business unit of the InteliSpend business.
CardLab is expected to be earnings neutral to Blackhawk’s financial results for the remainder of fiscal 2014.