Enigmatic Smile (ES), a global reward technology facilitator, has acquired Fidel API's loyalty business in a significant industry transaction, encompassing Fidel's technology platform, customers, partners, and the Fidel brand. This strategic move allows ES to incorporate Fidel's card linking platform into its expanding ecosystem, enhancing its core value proposition in the rewards and loyalty market. Fidel Limited, which recently rebranded as Astrada, decided to sell its loyalty segment to focus on spend management and other financial use cases. The acquisition aligns with ES's vision to address challenges in the payment-linked rewards space by leveraging Fidel's assets to offer integrated solutions at scale. With this acquisition, ES now serves 86 major reward programs globally and aims to tackle industry issues like "double dipping" through its Single.id program. The transaction was facilitated by Solano Partners and involved legal counsel from Fox Williams and Lewis Silkin LLP.