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Postepay buys Lis from Igt for 700 million – Economy

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Poste Italiane, through PostePay, has signed a binding agreement to acquire 100% of LIS Holding (formerly Lottomatica Italia Servizi) from International Game Technology for a total consideration of 700 million. Lis’ operates in the Italian proximity payments market through a network of approximately 54,000 affiliated points of sale and offers services, including bill payments, prepaid cards, phone top-ups, vouchers and other solutions for merchants and businesses. A proprietary pay technology platform, which benefits from economies of scale. techniques and skills. The transaction consideration, for a total of 700 million, is based on the project value of 630 million and net cash available of 70 million.
The acquisition will be fully financed with available cash resources, thanks to Poste Italiane’s strong liquidity position.
In 2021 – notes a note from Poste – Lis has total turnover of around 228 million and Ebitda around 40 million. “The acquisition – highlighted – will strengthen Poste Italiane’s presence in a fast-growing market such as payments, create value for the company and all stakeholders and demonstrate further progress in the context of the Group’s integrated omnichannel strategy.
The operation is also fueling PostePay’s growth in the proximity payments market, strengthening acquisition services and products for SMEs in line with the integrated omnichannel strategy at the heart of “24SI”, the 2024 strategic plan “Sustainability & Innovate” launched by CEO of Poste Italiane, Matteo Del Fante, In March 2021 the Board of Directors of Poste Italiane and PostePay approved the transaction, which remains subject to usual closing conditions, including obtaining regulatory approvals.The transaction is expected to close by the third quarter of 2022.

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The acquisition of Lis by PostePay “represents a milestone on our path with the goal of creating an integrated services ecosystem for the benefit of all our customers, with the goal of accelerating the transition to electronic payment tools and increasing the value generated for stakeholders,” Poste Italiane CEO Matteo Del Fante says, announcing the process. “PostePay – confirms – captures favorable market trends and seizes growth opportunities both internally and externally. The operation fosters a consolidated relationship with one of our key solution distribution partners in the payments market closely.”

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