Blackhawk Network To Acquire Achievers Corp - Quick Facts

(RTTNews) - Blackhawk Network Holdings Inc. (HAWK, HAWKB), a prepaid and payments network, announced Thursday that it has entered into a definitive agreement to acquire Achievers Corp. The company said the acquisition will broaden the reach of Blackhawk's already extensive incentive and engagement business.

"On a non-GAAP adjusted basis, we expect the acquisition to be earnings neutral in fiscal 2015 and earnings accretive in 2016," said Jerry Ulrich, Blackhawk Network's chief financial and administrative officer.

The transaction is expected to close by June 30, 2015, subject to customary closing conditions. Blackhawk Network plans to finance the purchase using cash on hand.

Achievers is a provider of employee recognition and rewards solutions designed to help companies increase employee engagement.

Achievers' Employee Success Platform is a cloud-based platform designed to dramatically increase employee engagement and drive business success through social recognition and rewards.