Inspired Entertainment, Inc. acquired Sportech Lotteries, Inc. from Sportech PLC for $14.5 million.
January 03, 2022
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Inspired Entertainment, Inc. (NasdaqCM:INSE) acquired Sportech Lotteries, Inc. from Sportech PLC (AIM:SPO) for $14.5 million on December 31, 2021. Inspired acquired Sportech Lotteries for $12.5 million on a cash free/debt free basis, subject to certain customary adjustments and up to $2.0 million of potential additional earnout consideration. This acquisition was funded with cash from Inspired's balance sheet. The upfront consideration represents a multiple of approximately 4.0x Sportech Lotteries' unaudited Adjusted EBITDA1 of $3.1 million for the LTM ended June 30, 2021, whereas the Revenue and Net Income reported for the period ended June 30, 2021 were $4.4 million and $0.9 million respectively.
Inspired Entertainment, Inc. (NasdaqCM:INSE) completed the acquisition of Sportech Lotteries, Inc. from Sportech PLC (AIM:SPO) on December 31, 2021. As part of the transaction, Sportech Lotteries, LLC is renamed Inspired Entertainment Lotteries LLC.
Inspired Entertainment, Inc. is a business-to-business (B2B) provider of gaming content, technology, hardware, and services. The Company offers a portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across retail and mobile channels around the world. Its Gaming segment supplies gaming terminals as well as gaming software and games for the terminals provided to betting offices, casinos, gaming halls and high street adult gaming centers. Its Virtual Sports segment designs, develops, markets, and distributes games that create an always-on sports wagering experience in betting shops and other locations and online. Its Interactive segment uses interactive-only content as well as offerings from its Gaming and Virtual Sports segments to create games that are hosted on remote gaming servers. The Companyâs Leisure segment supplies gaming terminals and amusement machines to the leisure and hospitality sectors.