CA-based Blackhawk Network inked a definitive agreement to acquire Achievers Corp. Achievers is a leading provider of employee recognition and rewards solutions designed to help companies increase employee engagement. The acquisition will broaden the reach of Blackhawk’s already extensive incentive and engagement business.
Achievers’ Employee Success Platform is a cloud-based platform designed to dramatically increase employee engagement and drive business success through social recognition and rewards. The platform empowers employees to recognize each other in real time from any desktop, mobile or tablet device, and aligns them to the goals of the company. The Employee Success Platform delivered more than seven million employee recognitions in 2014 and has fulfillment capabilities in more than 110 countries.
Earlier this year Blackhawk launched a new incentives division, Blackhawk Engagement Solutions, which is a leading global provider of customized incentive and engagement solutions for consumer promotions, direct and indirect sales channel incentive programs and employee rewards.
Employee incentives are a significant component of corporate incentives, and are evolving from simply service awards and task-oriented incentives to broad-based peer recognition systems. According to Blackhawk Engagement Solutions’ new research, less than half of U.S. employees are happy with the rewards and recognition their employers currently offer.
Blackhawk Network plans to finance the purchase using cash on hand.
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