Blackhawk Network (Australia) Pty Ltd entered into an agreement to acquire Edge Loyalty Systems Pty Ltd. from Village Roadshow Limited (ASX:VRL) for an enterprise value of AUD 32.3 million on August 29, 2019. For the financial year ended 2019, Edge Loyalty Systems reported an EBITDA of AUD 3 million. Fergus Koochew will continue to lead the business post acquisition. The transaction is subject to approval from Australia’s Foreign Investment Review Board and other customary conditions, and is expected to complete by November 2019. Net proceeds from the sale will be used to reduce VRL group debt. Blackhawk Network (Australia) Pty Ltd completed the acquisition of Edge Loyalty Systems Pty Ltd. from Village Roadshow Limited (ASX:VRL) on October 31, 2019.