Poste Italiane, through its subsidiary PostePay, has acquired 100% of the digital payment company LIS Holding by the International Game Technology group for 700 million euro. The Italian company communicates this in a note, specifying that the transaction includes "the available net cash available conventionally and equal to 70 million". Thus ends a transaction announced last February.
What is LIS holding and what does it do?
LIS “makes use of a proprietary paytech platform” and is active “in the Italian market of proximity payments through a network of approx 54.000 points of sale affiliated – continues Poste – LIS offers services including the payment of bills, prepaid payment cards, telephone top-ups and vouchers, as well as solutions for merchants and businesses. It also provides integrated management of all back-office activities of the point of sale and of the payment and commercial services provided to customers".
In 2021, LIS closed its financial statements with gross revenues of 228 million and an Ebitda of 40 million. In the first half of 2022, however, it achieved a gross turnover of 132 million and an Ebitda of 24 million (+16% year on year).
Del Fante: "It is the most significant financial acquisition in the history of Poste Italiane"
“The acquisition of LIS represents the most significant financial acquisition transaction in the history of Poste Italiane – he said Matthew Del Fante, Chief Executive Officer and General Manager of Poste Italiane – reflecting our commitment to increase our market share in the fast-growing payments segment, strengthening PostePay's position as a leading company in the paytech sector and further contributing to the implementation of our omnichannel strategy. The full control of the proprietary platform of LIS combined with the internalization of the technological know-how will allow us to further advance in the implementation of our omnichannel strategy and in the payment solutions area”.
The growth of PostePay
With the acquisition of LIS, PostePay "will expand its range of products and strengthen the solutions dedicated to Small and Medium Enterprises - concludes the note - PostePay manages 28,3 million payment cards and around 10 million digital wallets as at 30 June 2022. Payments and Mobile segment revenues grew 21% year-over-year in H2022 XNUMX.”
