Reward Gateway owner IBH acquires UK employee discounts pioneer Perkz
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IBH, the owners of Reward Gateway and investors in HR employee engagement software, has announced today that it has acquired Perkz, an online employee benefits platform in the UK and Ireland, for an undisclosed fee.
As part of the deal, Perkz will operate separately to Reward Gateway, maintaining its own distinct product position with a different benefits offering, customer base and market expertise. Perkz’ clients include Centrica, Honda, Age UK, University of Manchester, Tesco (Ireland), PSA Peugeot Citroën and Biffa.
The acquisition will boost International Benefits Holdings’ market share and revenue, already at £180m GBP. It will enable IBH to maximise its product offering, support network, and customer value whilst streamlining operations and resources. The business portfolio also includes Reward Gateway, the global leader in employee engagement software which was valued at £140m by US private equity firm, Great Hill Partners in July 2015.
Glenn Elliott, founder of Reward Gateway and International Benefits Holdings, said “This acquisition is an important milestone in our story. Perkz offers fantastic value to its customers through its much-loved discounts offering and now as part of the IBH portfolio, we can offer a wider range of products for companies of all sizes and have the solutions in place for those businesses at the start of their engagement strategy to companies looking for the complete integrated technology package.”
David Tedford, founder of Perkz, added “We’re delighted that Perkz is set to enter the next phase of its journey as part of the IBH family, I’m confident that in Glenn’s hands, the business will continue to put its customers at the heart of everything it does. I was impressed by Reward Gateway’s values, as well as its open honest culture – and felt that it is very much aligned to the Perkz philosophy.”
David, who founded Perkz in 2003, will be stepping back from the Perkz business to spend time with his family. The new office headquarters will be in Leeds.
Looking forward to the future, the company will soon be launching a hotly anticipated upgrade that will include hundreds of additional offers and new features for its customers.