United States

Blackhawk Network acquires GiftCards.com and OmniCard.com

Wednesday, 6 Jan 2016 05:00pm EST 

Blackhawk Network Holdings:Purchased the ownership interests of Omni Prepaid, LLC from Wolfe, LLC which in turn resulted in the acquisition of GiftCards.com, LLC and OmniCard, LLC.Purchase price was approximately $120 million and will be funded using a combination of cash on hand and borrowings under an existing credit facility.Acquisition is consistent with Blackhawk's growth strategy around its digital product expansion and is expected to be accretive to Blackhawk net income in fiscal 2016.