Poste Italiane, through PostePay, has signed a binding agreement for the acquisition of 100 percent of LIS Holding (the former 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 thousand 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 makes use of a proprietary paytech platform, benefiting from economies of scale, technologies and skills ».
The consideration for the transaction, for a total of 700 million, is based on an enterprise value of 630 million and available net cash of 70 million. The acquisition will be financed entirely with available cash resources, thanks to Poste Italiane’s solid liquidity position. 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 – it is highlighted – will strengthen Poste Italiane’s presence in a rapidly growing market such as payments, creating value for the company and for all stakeholders and marking a further advancement in the context of the group’s integrated omnichannel strategy. . The operation consolidates PostePay’s growth also in the proximity payments market, strengthens the acquiring services and the products offered to SMEs in line with the integrated omnichannel strategy at the heart of the “24SI” plan “, the strategic plan to 2024” Sustain & Innovate ”launched by the CEO of Poste Italiane, Matteo Del Fante, in March 2021 The boards of directors of Poste Italiane and PostePay have approved the transaction which remains subject to the usual closing conditions, including obtaining regulatory approvals. The closing of the transaction is expected by the third quarter of 2022.
The acquisition of Lis by PostePay «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 the 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 ».