CashStar, a digital gift card service backed by Intel, has been acquired by Blackhawk Network for approximately $175m in cash.

Fintech company Blackhawk Network has acquired CashStar, a US-based digital gift card service backed by semiconductor technology producer Intel, for approximately $175m in an all-cash transaction.

CashStar will become part of Blackhawk’s digital and incentives businesses. Ben Caplan, chief executive and president of CashStar, will continue to manage the company and will report to David Jones, general manager of digital and incentives at Blackhawk.

CashStar has developed a platform that allows customers to purchase personalised digital and physical gift cards.…