trending Market Intelligence /marketintelligence/en/news-insights/trending/HXKWQ1w-hLnCDh3TgNIcGQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Blackhawk Network buys assets of reward provider

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

Online Brokerage Space Should Remain Rich Source Of M&A

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

Blackhawk Network buys assets of reward provider

Blackhawk Network Holdings Inc. acquired certain assets of a recognition and reward provider with operations primarily in Australia during the third-quarter.

In the first quarter, the company closed an acquisition of a rebates and incentives business.

The purchase consideration for the acquisitions totaled about $30.1 million, which includes $27.6 million cash on hand and about $1.6 million related to contingent consideration, which is a cash payment of up to $2.0 million based on the performance of the acquired business through Dec. 31 and $900,000 relating to working capital adjustments.

The company acquired $8.3 million cash in aggregate. Based on the initial estimate of the purchase price allocation, $15.5 million was attributed to intangible assets, $13.1 million was attributed to goodwill and $6.8 million was attributed to net tangible liabilities acquired.

Blackhawk Network expects to deduct $9.9 million of goodwill and $7.8 million of identifiable technology and intangible assets for tax purposes, a portion of which will start on the settlement of contingent consideration and contingent liabilities.