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.