The transaction is expected to be completed in the third quarter of 2021, subject to customary closing conditions, including regulatory approvals. Terms of the agreement were not disclosed.
The acquisition of Reward Gateway validates the company’s strategic vision, expansive growth strategy, and the value its products and services deliver to clients. Previously controlled by Great Hill Partners, the company has seen more than 180% growth in revenue since 2015 and currently supports more than 1,900 customers with over five million employees globally.
Reward Gateway offers a leading SaaS employee engagement platform that centralises employee reward and recognition, discounts, communications, surveys, wellbeing and flexible benefits. Its strategic products support companies with today’s most difficult people challenges, such as the digitisation of the workplace, attracting and retaining talent, aligning and supporting remote workforces and handling complex cultural issues.
Liberty advised on the terms of the reinvestment by the continuing management and on the terms of a new equity incentive plan for the company going forward.
The Liberty team for this transaction was Kevin Palmer, Clare Kazab, Jeff Soh and Jun Neoh.