Reward Gateway, the British-founded software company that assists companies in rewarding staff, has been acquired by French voucher and card provider Edenred for over £1 billion.

Edenred said the acquisition would “substantially extend” its employee benefits strategy and aid in its global expansion plans.

Edenred chief executive and chairman Bertrand Dumazy added that integrating Reward Gateway’s employee engagement platform would help it to scale beyond its current presence in the UK, Australia, and the US to other “selected key countries”.

“The combination of our people, our solutions, our customer bases and our technologies offers high potential for synergies,” Dumazy said.

Reward Gateway chief executive Nick Burns said that bringing together the companies’ collective strengths would result in a “world-beating” HR and benefits solution.

“As we will aim at a single unified platform, we will benefit from economies of scale to build tailored solutions for specific markets,” Burns said.

Founded in 2006, according to Reuters, Edenred has experienced buoyant performance over the past year.

The news agency said rising inflation had resulted in pressure on employers to spend more on employee benefits, a matter which reportedly accounts for around 60 per cent of Edenred’s operating revenue.

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