FONT-SIZE Plus   Neg

Blackhawk Network To Acquire InteliSpend

Blackhawk Network (HAWK) Monday agreed to acquire InteliSpend Prepaid Solutions, a company engaged in the corporate incentives and consumer promotions marketplace.

The deal is expected to close no later than November 8 and is subject to customary closing conditions.

Blackhawk is acquiring substantially all of the assets of the InteliSpend business for cash and plans to finance the purchase using cash on hand and borrowings from Safeway Inc., Blackhawk's parent company.

The deal is not expected to have a material impact on Blackhawk's fourth quarter 2013 results. For fiscal 2014, it is expected to add about $50 million to $60 million in adjusted operating revenues and be earnings accretive.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Retailers could see record web traffic this year as more consumers then ever before plan to shop online, according to Deloitte's 31st annual holiday survey of consumer spending intentions and trends. The survey found that holiday shoppers this year plan to spend just as much as online as they spend in brick and mortar stores. Oil giant Chevron Corp. on Friday reported a 37 percent decline in profit for the third quarter from last year, reflecting lower oil prices and weak refining margins. However, both revenue and earnings per share for the quarter beat analysts' estimates. In addition, the company raised its quarterly dividend. Mastercard Inc. (MA) reported a profit for the third quarter of 2016 that increased about 21 percent from the year-ago period, while it was up 15% excluding a special item related to the termination of the U.S. employee pension plan taken in last year's third quarter. Both earnings per share and revenue for the quarter beat analysts' expectations.
comments powered by Disqus
Follow RTT