Italian tech platform changes hands
The Poste Italiane has finalised its acquisition of LIS Holding (LIS) from International Game Technology (IGT). The investment amounted to EUR 700 million paid for the acquisition of 100% of the shares, including conventional net unrestricted cash of EUR 70 million.
As a long-standing partner of Poste Italiane, LIS built up a proprietary pay tech platform and now runs a network of almost 54,000 affiliated points of sale in the Italian proximity payment market.
The portfolio complies services as bill payments, prepaid payment cards, telco & e-vouchers top-ups as well as merchant and enterprise service solutions.
In 2021, LIS generated EUR 228 million in revenues and an ebitda of EUR 40 million. The acquisition is a milestone in the integrated omnichannel strategy of the Poste Italiane. LIS will consolidate Poste Pay’s role in the payment business and digital services. (cd)