Village Roadshow Limited today announced it has signed an agreement to sell its wholly-owned promotional solutions agency, Edge Loyalty Systems (Edge), for an enterprise value of A$32.3 million to Blackhawk Network (Australia).
The transaction is subject to approval from Australia’s Foreign Investment Review Board and customary conditions precedents, and is expected to complete by November 2019.
Edge is a leading Australian sales promotions and loyalty based incentive technology business.
Fergus Koochew (featured image), who has been with Edge for over 8 years, will continue to lead the business post acquisition.
Blackhawk Network is a wholly owned subsidiary of global financial technology company Blackhawk Network Holdings.
Blackhawk Network develops new ways to give, receive and use gift cards, digital incentives and loyalty points around the world.
By creating rewarding experiences, Blackhawk helps clients build engagement, loyalty, productivity and sales.
Edge CEO, Fergus Koochew said: “We are delighted to be joining the Blackhawk team and believe the collaboration will deliver meaningful value and enhanced offerings for our respective clients.
“Blackhawk will bring a global reach, expansive network and complementary solutions.
“This will create an accelerated pathway for our growth and broader expansion of our rapidly evolving incentive technology and services into Australia and South East Asia.”
Blackhawk Network CEO and president, Talbot Roche commented: “We are excited to be driving Blackhawk’s continued growth and investment in the Australia and Asia Pacific regions.
“There is significant growing demand for incentives solutions by our clients.
“This collaboration greatly enhances our loyalty, promotions and unique content offerings.
“We are pleased to be welcoming Edge and its team to extend our combined solutions to our customers.”
