Blackhawk Network to acquire Tango Card

According to BHN’s officials, the company was a longtime partner to Tango, as well as an early investor in the firm. BHN underlined that it intends to merge its services with Tango’s to provide global and scalable solutions and developments to the rewards and incentives industry. Additionally, the strategic acquisition enables BHN and Tango’s customers to experience the latter’s B2B incentives platform and customer support, with the services being improved by BHN’s global connectivity and industry knowledge. Representatives from Tango stated that, currently, customers require global rewards, improved technology, and reliable supply chains, all with a focus on support and service. By joining BHN, the company aims to continue its work in this space, support customers’ global needs, and develop enhanced experiences for recipients.

Considering that the rewards and incentives space saw significant interest and investment over the last years, Tango also experienced substantial growth since its first investment  from FTV Capital in 2018. At that time, the company intended to leverage the capital injection to continue investing in its core Reward Delivery Platform and Rewards as a Service API, scale its Rewards Genius dashboard, deliver additional marketplace integrations, accelerate international expansion, and expand its workforce. The current move represents the second time in which FTV and BHN partnered on an acquisition.

The press release also mentions that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired and there are no remaining antitrust approvals. However, the transaction between Tango and BHN is subject to regulatory approvals relating to money transmitter licences. The acquisition is expected to close by the end of 2024.

With its solutions, Blackhawk Network intends to support the relationships between brands and their customers, employees, and partners. The company’s portfolio includes gift card products, promotions and distribution, rewards and incentives, and payments. Currently, BHN’s network spans globally and includes over 400,000 consumer touchpoints. In addition to the acquisition of Tango, the company entered several collaborations in recent months, including one with Affirm in December 2023. Through this partnership, consumers were set to leverage Affirm to acquire digital gift cards directly from the company’s website or app from their preferred brands across entertainment, dining, clothing and accessories, outdoor goods, and home, among others. By working together, the two companies aimed to provide consumers with more flexibility for purchasing gift cards.