Salt Lake City-based O.C. Tanner, a global leader in employee recognition and workplace culture, announced last week that it has signed an agreement to acquire Accumulate Loyalty Services Ltd., a leading Australian provider of employee recognition and incentive programs and products.
“This acquisition will enable O.C. Tanner to better support its large multinational clients who have employees and operations in Australia, and further expands O.C. Tanner’s existing global presence in the United States, Canada, Europe, Singapore and India,” the company said in announcing the deal.
O.C. Tanner was founded in 1927 and operates from offices throughout the world including Canada, the United Kingdom, India, Germany, Mexico and several countries in Asia. The company employs more than 1,600 people in its various operations.
“This is a natural coming-together of two industry leaders. Deciding to join forces with Accumulate was an easy decision,” said Dave Petersen, CEO of O.C. Tanner. “Our shared vision for helping clients engage their people, along with our similar company cultures, makes this a very exciting opportunity.”
Accumulate’s offerings complement O.C. Tanner’s position as the worldwide leader in employee recognition and culture. A history of continuous investment and leadership in cutting-edge technology development allows O.C. Tanner to offer the industry’s best suite of products and services, the Tanner release said.
“Accumulate is the go-to recognition and incentive partner for ASX200 (Australia stock exchange) companies,” said Alan Heyward, managing director at Accumulate. “We’re thrilled to be joining the O.C. Tanner family. There’s great strategic and cultural alignment, and we look forward to combining our respective strengths and knowledge to deliver leading solutions to our growing client base in Australia and internationally.”
The pending acquisition also provides an opportunity to bring the O.C. Tanner Institute, with its research and publishing capabilities, into the Australian market. The institute provides insights and foresight into global industry trends surrounding employee engagement and culture, as well as future product development initiatives.
Accumulate was a subsidiary of Qantas Frequent Flyer Ltd., which will continue its relationship with the company as its employee recognition client. In addition, O.C. Tanner’s product suite will now be available for both multi-national clients and Australian clients.
The acquisition is scheduled to close on Oct. 31.