Edenred to Acquire Reward Gateway
May 16, 2023
Cleary Gottlieb is representing Edenred in its acquisition and the financing of its acquisition of Reward Gateway from funds managed by Abry Partners and Castik Capital.
The transaction signed and closed on May 16, 2023, with an enterprise value of £1.15 billion, and with the consideration funded by a €1 billion bridge loan and cash at hand. Cleary advised on the acquisition of Reward Gateway and the bridge financing.
Edenred is a leading digital platform for services and payments, connecting 52 million users and two million partner merchants in 45 countries through close to one million corporate clients. Edenred is listed on the Euronext Paris stock exchange.
Founded in 2006 in the UK, Reward Gateway is a leading SaaS employee engagement platform provider with more than 4,000 customers and eight million employees using its solutions in the UK, Australia, and the U.S. The Reward Gateway platform provides various engagement tools, including employee savings, reward and recognition, communications, surveys, and well-being solutions.
For more information, please see the press release here.