Bilt Pays $300 Million for Sports Loyalty Platform Lava
By PYMNTS
AI summary of the source article
Neighborhood commerce and rewards company Bilt is acquiring sports and entertainment loyalty platform Lava in a $300 million deal. The acquisition integrates Lava’s technology and partnerships with 56 professional sports franchises into Bilt’s commerce ecosystem.
Why it matters
The deal brings Lava’s technology and partnerships into Bilt’s “rapidly expanding neighborhood commerce ecosystem” and “marks a significant step in Bilt’s expansion”.
Key facts
- Bilt is acquiring sports and entertainment loyalty platform Lava for $300 million.
- Lava brings technology and partnerships with 56 professional sports franchises.
- The transaction expands Bilt's neighborhood commerce ecosystem.
Source excerpt · PYMNTS
Neighborhood commerce and rewards company Bilt is acquiring sports and entertainment loyalty platform Lava, according to a Monday (Nov. 2) news release. The $300 million deal brings Lava’s technology and partnerships with 56 professional sports franchises into Bilt’s “rapidly expanding neighborhood commerce ecosystem,” per the release. “The deal marks a significant step in Bilt’s expansion […] The…