The sale price consists of an enterprise value of EUR 630 million and approximately EUR 70 million of net unrestricted cash, whilst IGT maintains that its payments subsidiaries granted around EUR 228 million in gross revenues and close to EUR 40 million in EBITDA in 2021.
With this acquisition, PostePay is securing a payment technology platform and a domestic network of 54,000 points of sale in Italy, with services including bill payments, prepaid payment cards to commercial services providing telco and e-voucher top-ups, and technological solutions such as merchant and enterprise services.
The transaction, which has received the approval of IGT’s Board of Directors, is expected to close during the third quarter of this year, subject to customary closing conditions including regulatory approvals.
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