M&A Deal Summary

Blackhawk Network Acquires CashStar

On August 30, 2017, Blackhawk Network acquired internet software and services company CashStar from FTV Capital for 175M USD

Acquisition Highlights
  • This is Blackhawk Network’s 6th transaction in the Internet Software and Services sector.
  • This is Blackhawk Network’s 2nd largest (disclosed) transaction.
  • This is Blackhawk Network’s 10th transaction in the United States.
  • This is Blackhawk Network’s 1st transaction in Maine.

M&A Deal Summary

Date 2017-08-30
Target CashStar
Sector Internet Software and Services
Buyer(s) Blackhawk Network
Sellers(s) FTV Capital
Deal Type Add-on Acquisition
Deal Value 175M USD

Target

CashStar

Portland, Maine, United States
CashStar, Inc. is a provider of gift card commerce solutions at the forefront of mobile payments and digital gifting innovation. CashStar, Inc. was established in 2002 and is based in Portland, Maine.

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Buyer(S) 1

Buyer

Blackhawk Network

Pleasanton, California, United States

Category Company
Founded 2001
Sector Information Technology
Employees2,331
Revenue 1.8B USD (2016)
DESCRIPTION

Blackhawk Network is a global financial technology company and is connecting brands and people through branded value solutions. Blackhawk platforms and solutions enable the management of stored value products, promotions and rewards programs in retail, ecommerce, financial services and mobile wallets. Blackhawk’s Hawk Commerce division offers technology solutions to businesses and direct to consumers. The Hawk Incentives division offers enterprise, SMB and reseller partners an array of platforms and branded value products to incent and reward consumers, employees and sales channels. Blackhawk Network was founded in 2001 and is based in Pleasanton, California.


DEAL STATS #
Overall 12 of 15
Sector (Internet Software and Services) 6 of 7
Type (Add-on Acquisition) 10 of 13
State (Maine) 1 of 1
Country (United States) 10 of 13
Year (2017) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-31 Grass Roots Group Holdings

Hertfordshire, United Kingdom

Grass Roots Group Holdings Ltd. is a provider of employee and customer engagement solutions, it connects brands and people, through services such as experience and insight, motivation, rewards, benefits, promotions and meetings and events.

Buy £90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-08 SVM

Arlington Heights, Illinois, United States

SVM, Inc. is a gift card specialist, assisting national and regional retailers in growing gift card sales, reducing expenses, and minimizing burdens and risks. SVM was founded in 1997 and is based in Arlington Heights, Illinois.

Buy -

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


DEAL STATS #
Overall 38 of 61
Sector (Internet Software and Services) 8 of 12
Type (Add-on Acquisition) 27 of 39
State (Maine) 1 of 1
Country (United States) 35 of 54
Year (2017) 2 of 3
Size (of disclosed) 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-27 Sitehands

Charlotte, North Carolina, United States

Sitehands is an innovative provider of enterprise IT field services through a unique two-sided market approach. Sitehands delivers IT field services through a unique two-sided platform which provides orchestration and simplification with end-to-end accountability and continuous optimization. Sitehands was founded in 2016 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-17 WePay

Palo Alto, California, United States

WePay, Inc. is a provider of payments as a service for online platforms and marketplaces.

Sell $220M