Blackhawk Network has completed the acquisition of CardLab, a Dallas-based online provider of business-to-business prepaid incentive and rewards cards.
The deal is part of Blackhawk's efforts to expand into the B2B prepaid card market by offering physical and online products to consumers and employees, according to a Sept. 15 press release.
CardLab will operate as a unit of Blackhawk's InteliSpend business, which supports the distribution of prepaid gift cards, telecom products and financial services to a global network of payments partners, such as retailers, financial service providers, and mobile wallets. Blackhawk purchased InteliSpend in November 2013.
David Jones, chief executive of CardLab, will report to Sheree Thornsberry, general manager InteliSpend.
CardLab's technology enables small and medium-sized businesses to automate order placement and delivery, said Talbott Roche, president of the Pleasanton, Calif.-based Blackhawk, in the release. "It also offers a quick and easy way for department heads of larger companies to meet their immediate needs for smaller scale, customized customer 'thank you' rewards, employee incentives or event giveaways."