(Reuters) - French voucher and card provider Edenred (EPA:EDEN) said on Tuesday said it has acquired Reward Gateway, a British company whose software helps companies reward their staff, as it accelerates the extension of its Employee Benefits solutions.
The acquisition amounts to 1.15 billion pounds ($1.45 billion) of enterprise value, Edenred added.
Edenred, known for its "Ticket Restaurant" vouchers, has benefited over the past year from rising inflation that have pushed employers to spend more on workers' benefits, boosting a business that accounts for around 60% of its operating revenue.
"By integrating this leading employee engagement platform, we are substantially extending our employee benefits offer to provide HR managers with a comprehensive range of solutions helping them make their organization more attractive to talents", Chairman and CEO Bertrand Dumazy said in a statement.
Founded in 2006, Reward Gateway has strong positions in the UK and in Australia, and is also present in the United States, Edenred said.
The transaction is expected to close within a couple of days.