Illinois-based gift card solutions provider National Gift Card (NGC) has bought local digital payments and fundraising company Benefit Mobile.
Financial terms of the deal were not disclosed.
Former NGC president Eric Thiegs will now serve as the chief revenue officer.
Thiegs will be tasked with spearheading all commercial activity at the combined group.
“Our clients and merchants have trusted NGC for 15 years, and we will now offer forward looking technology solutions to dramatically improve how their gift card programmes go to market,” Thiegs stated.
As part of the deal, Benefit Mobile president and CEO D.J. Asad will join NGC as the president.
Commenting on the deal, Asad noted: “The NGC and Benefit Mobile marriage brings a fresh, powerful, and technology-forward approach to the gift card industry.
“Together, we have the size and stability of a major player while still being nimble enough to truly innovate and partner collaboratively with our customers.”
One of Benefit founders Darron Schall will now become chief technology officer at the merged entity.
Another Benefit founder Derik Lolli will assume the role of chief product officer.
In their new roles, the pair will be responsible for the design, development, as well as evolution of creative prepaid solutions.