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Poste Italiane buys former Lottomatica payment services for 700 million

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Poste Italiane buys former Lottomatica payment services for 700 million

MILANO – Poste Italiane has formalized the purchase, through PostePay, of the entirety of LIS Holding (formerly Lottomatica Italia Servizi) from International Game Technology for a total consideration of 700 million. Lis “is active in the Italian proximity payments market through a network of approximately 54,000 affiliated sales points and offers services, including payment of bills, prepaid payment cards, telephone top-ups and vouchers and other solutions for merchants and businesses. . It uses a proprietary paytech platform, benefiting from economies of scale, technologies and skills “, explains the letter company.

The shopping, financed with own resources, envisages an enterprise value of 630 million and a net cash available of 70 million. In 2021 – indicates a note from Poste – Lis generated a gross turnover of approximately 228 million and an Ebitda of approximately 40 million.

The acquisition “represents a milestone in our path aimed at creating an ecosystem of integrated services for the benefit of all our customers, with the aim of accelerating the transition to electronic payment instruments and increasing the value generated for stakeholders. “, says the CEO of Poste Italiane, Mateo Del Fante, announcing the operation. “PostePay – he underlines – is riding favorable market trends and seizing growth opportunities both internally and externally. The operation leverages a consolidated relationship with one of our main partners in the distribution of solutions in the proximity payments market.”

“We believe that the acquisition is strategically positive as it will allow Poste to increase the network from 13 thousand pos to 67 thousand pos and to concentrate its network on the sale of products with higher added value, mainly using the Lis network for proximity payments. and strengthening its omnichannel strategy “, commented Equita analysts who confirmed the buy recommendation on Poste, with a target price of 14 euros.

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