UK-based HDI offers data services to brands in the hospitality and convenience sectors, including McDonald's, Pizza Express, and Deliveroo.

Reward operates in over 15 markets across the UK, Europe, the Middle East and Asia.

The acquisition will combine HDI’s SKU-level data, product range, pricing insights, and consumer sentiment analysis with Reward’s transactional and behavioural insights, and strengthens Reward’s products for retail marketing, performance optimisation, and operational insights.

Reward said the companies’ combined efforts will start in the hospitality and convenience sectors and move into other categories including convenience and grocery.

The all-cash acquisition follows a recent strategic investment in Reward from Experian, which has bolstered the company’s consumer insights capabilities.

The financial terms of the deal were not disclosed.

Effective immediately, Darroch Bagshaw, managing director at HDI, will join Reward’s leadership team, reporting to chief executive Jamie Samaha.

Samaha said: "This acquisition of HDI marks a transformative step in our journey to deepen our understanding of consumer behaviour and amplify the value we deliver to our customers, banking partners, and retailers. HDI’s diverse portfolio of leading hospitality brands and innovative insight products opens significant opportunities for us to strengthen our retailer relationships in this key sector."

Bagshaw added: "Reward’s endorsement of our services is testament to our aligned commitment to high quality data analytics that drive investment decisions for the world’s largest retailers. We look forward to combining insights capabilities to provide enriched products and services to retailers and greater value to customers."