Weekly Newsletter

07 February 2024

Weekly Newsletter

07 February 2024

Blackhawk Network to acquire Tango Card

Blackhawk Network will purchase Tango pay in an acquisition described as a "once-in-a-company" opportunity for Tango

Robert Prendergast February 01 2024

Blackhawk Network (BHN) has confirmed that it has entered into a definitive agreement to acquire Tango Card.

This strategic acquisition allows customers of BHN and Tango to experience Tango’s innovative B2B incentives platform and customer support, magnified by the industry-leading scale, global connectivity and expertise of BHN.

Tango is the digital rewards, e-gifting and payments platform, while BHN works in branded payment technologies.

Talbott Roche, CEO & president, BHN, said: “Tango pioneered the digital-first reward experience through its powerful API, coupled with world-class service and exceptional breadth of global content, making it the perfect complement to BHN’s global product portfolio. We have been a longtime partner to Tango and were also an early investor. We are thrilled with the opportunity to combine the best of BHN with the best of Tango to provide leading, global, scalable solutions and innovation to the rewards and incentives industry.”

Acquisition is “once-in-a-company” opportunity for Tango

David Leeds, Tango’s founder and CEO, commented: “I started Tango 15 years ago to fundamentally improve the incentives industry for customers and their recipients. Customers today need global rewards, innovative technology, reliable supply chains, and an unwavering focus on support and service. Joining BHN at this time provides a once-in-a-company opportunity to continue innovating in this space, better support our customers’ evolving global needs and create awesome experiences for recipients.”

The rewards and incentives space has experienced significant interest and investment over the last decade. Tango’s growth equity investor, FTV Capital, first invested in Tango in 2018. Since that time, Tango has grown 800%. The Tango acquisition marks the second time FTV and BHN have partnered on an acquisition. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired and there are no remaining antitrust approvals. The transaction remains subject to regulatory approvals relating to money transmitter licences and is projected to close later this year.

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Your corporate email address *
First name *
Last name *
Company name *
Job title *
Vist our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close