ATLANTA, GA | NEW YORK, NY – Updata Partners is pleased to announce that Bridge2 Solutions (“Bridge2”) has been acquired by Intercontinental Exchange, Inc. (NYSE:ICE), a Fortune 500 owner and operator of numerous exchanges and clearing houses for financial and commodity markets, including the New York Stock Exchange. ICE intends to merge Bridge2 with its majority-owned subsidiary Bakkt. The transaction was announced on February 5th, 2020.
Bridge2 was an Updata V portfolio company and provides a leading SaaS platform that enables innovative engagement and redemption solutions for loyalty sponsors, travel partners, and consumer brands. Updata invested in Bridge2 in April 2016 based on the strength of the Company’s innovative platform, blue-chip customer base, and large market opportunity. Since the initial investment, Bridge2 expanded its customer base to include seven of the top ten financial institutions and 4,500 loyalty, incentive, and employee perk programs, and launched new solutions like Loyalty Pay, which gives consumers a universal ability to pay with reward currencies both at the point of sale in retail stores and in-app through digital wallets.
We are happy to have worked with Bridge2’s dedicated and exceptional team, and we wish them continued success in the future as part of ICE.
ICE’s press release can be found here.