SVM LP, which provides gift cards for corporate promotions, incentives and loyalty programs, has acquired 1to1 Card, another operator in the same niche, the companies announced March 8.
The deal enables Arlington Heights, Ill.-based SVM and 1to1Card, of Woodridge, Ill., to expand the range of services they offer corporations, including open- and closed-loop gift cards for business-to-business employee incentives and consumer-targeted promotions, said Marshall Reavis, SVM’s founder and CEO. Terms of the acquisition between the privately held firms were not disclosed.
SVM and 1to1 will maintain separate facilities, but SVM will benefit from technical advantages 1to1 Card’s platform provides for more complex promotions, Reavis said, including growing demand for digital gift cards. “The majority of gift cards used in promotions and incentives are still plastic, but digital is the fastest growing part of the business,” he said.
SVM’s clients for gift card promotions and incentives include ExxonMobil, Chevron and Texaco, American Airlines and Staples, among others.