PostePay Acquires IGT's Italian Proximity Payment Business for €700M
September 15, 2022
PostePay S.p.A. – Patrimonio Destinato IMEL completed the acquisition of International Game Technology PLC’s (IGT) Italian proximity payment business from IGT Lottery S.p.A. for €700 million (enterprise value €630 million plus ~€70 million net unrestricted cash). IGT said it will use the proceeds primarily to pay transaction expenses and reduce debt.
- Buyers
- PostePay S.p.A. – Patrimonio Destinato IMEL
- Targets
- IGT Italian proximity payment business (held by IGT Lottery S.p.A.)
- Sellers
- International Game Technology PLC (IGT), IGT Lottery S.p.A.
- Industry
- Payments & Fintech
- Location
- Italy
- Transaction Type
- Divestiture
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