Blackhawk acquires prepaid card provider CardLab

Pleasanton, Calif. - Blackhawk Network has completed the acquisition of Dallas-based CardLab Inc., an online provider of customizable prepaid incentive and rewards cards. The deal is part of Blackhawk's strategy to extend its prepaid card solutions from physical and online retail channels into the business-to-business channels that issue incentives and rewards to consumers, customers and employees.



CardLab, through its IncentiveCardLab.com website, offers a variety of prepaid cards, all of which can be sent to a recipient via e-mail or SMS text message. CardLab's custom card design and distribution services enable users to send prepaid incentive cards in any denomination from $5 to $2,500. The fully automated website also allows businesses to upload their corporate logos or customize existing incentive card designs.



CardLab will operate as a business unit of Blackhawk Network's InteliSpend business. David Jones, the CEO of CardLab, will report to Sheree Thornsberry, General Manager of the InteliSpend business. CardLab is expected to be earnings neutral to Blackhawk's financial results for the remainder of fiscal 2014.