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Blackhawk Network Signs Agreement to Acquire Tango Card
To further enhance the power of its global rewards platform, branded payments provider Blackhawk Network (BHN) today confirmed that it has entered into a definitive agreement to acquire digital B2B gift card rewards innovator Tango Card (Tango).
“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,” said Talbott Roche, CEO & president, BHN. “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.”
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.
“I started Tango 15 years ago to fundamentally improve the incentives industry for customers and their recipients,” said David Leeds, Tango’s founder and CEO. “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 licenses and is projected to close later this year.
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