Divestiture • Internet Software and Services

Silver Lake Acquires Achievers

On October 1, 2020, private equity firm Silver Lake acquired internet software and services company Achievers from Blackhawk Network

Acquisition Context
  • This is Silver Lake’s 16th transaction in the Internet Software and Services sector.
  • This is Silver Lake’s 81st transaction in the United States.
  • This is Silver Lake’s 29th transaction in California.

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M&A Deal Summary

Date October 1, 2020
Target Achievers
Sector Internet Software and Services
Buyer(s) Silver Lake
Sellers(s) Blackhawk Network
Deal Type Divestiture

Target Company

Achievers

San Francisco, California, United States
Achievers is a provider of employee recognition and rewards solutions designed to help companies increase employee engagement. Achievers delivers an employee success platform™ that enables social recognition, which dramatically increases employee engagement and drives business success. Achievers was founded in 1995 and is based in San Francisco, California.
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Buyer Overview 1

Buyer

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


Deal Context for Buyer #
Overall 113 of 137
Sector: Internet Software and Services 16 of 21
Type: Divestiture 7 of 8
State: California 29 of 36
Country: United States 81 of 97
Year: 2020 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-23 GoodRx

Santa Monica, California, United States

GoodRx is a source for prescription and healthcare savings. More than 10 million consumers use GoodRx each month to find current prices and discounts on their medications. GoodRx’s real-time market-intelligence platform gathers retail prices and coupons for virtually every pharmacy in America, providing savings of up to 80%. GoodRx was founded in 2011 and is based in Santa Monica, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-28 HYLA Mobile

Irving, Texas, United States

HYLA Mobile is a provider of products and services that capture, extend, and optimize the life and value of used mobile phones. HYLA has worked to develop technology and solutions that extend the lifecycle of mobile devices to build economic opportunity and enable information access for new users while helping to protect our planet. HYLA Mobile was founded in 2009 and is based in Irving, Texas.

Sell -

Seller Profile 1

SELLER

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 Context for Seller #
Overall 1 of 1
Sector: Internet Software and Services 1 of 1
Type: Divestiture 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2020 1 of 1
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-06 NGC US

Crystal Lake, Illinois, United States

NGC US LLC is a provider of prepaid payments and secure gift card fulfillment solutions for loyalty, rewards, and incentive programs. The Company sources and delivers 500+ brands of physical and digital gift cards across the United States, Canada, and Europe using the industry’s highest levels of security, quality, and speed. NGC US was founded in 2004 and is based in Crystal Lake, Illinois.

Buy -