Blackhawk Network To Acquire Parago, Inc. For About $290 Mln - Quick Facts

(RTTNews) - Blackhawk Network Holdings, Inc. (HAWK, HAWKB) announced a definitive agreement under which it will acquire all outstanding shares of Parago, Inc. for about $290 million.

Parago is a premier provider of end-to-end engagement management programs for consumers, sales channels and employees and is committed to designing the most forward-thinking and impactful programs.

According to the company, Parago will operate as a subsidiary of Blackhawk Network and will remain headquartered in Dallas, Texas. Juli Spottiswood of Parago will lead incentive business and report to Talbott Roche, Blackhawk Network president.

"We expect the acquisition will be meaningfully accretive in 2015, adding $24 million to $28 million in adjusted EBITDA and $8 million to $10 million in adjusted net income", said Jerry Ulrich, chief financial and administrative officer.