Sportech completes acquisition of LOT.TO
Sportech has completed its acquisition of UK-based iLottery solutions provider LOT.TO Systems.
Betting technology business Sportech said the deal will help to solidify its global gaming capabilities and services position.
Sportech, which takes a 100% holding in the business, said the purchase will also enable it to expand its suite of gaming services.
Financial details of the deal were undisclosed, but Sportech has previously stated that the acquisition will be non-material in the context of the group.
“This acquisition will enhance the digital capabilities across all group business lines,” Sportech executive chairman Richard McGuire said.
“In addition, it will accelerate a strategy to further develop those growth opportunities, consolidate our sports betting capability, enhance our existing lottery product capabilities and support the digital development of our global pari-mutuel capabilities in an efficient and effective manner.”
UK-regulated LOT.TO has worked with gaming companies including Lottoland and CelebPoker, as well as media giants Sky and Virgin. Among its products are
lottery and betting games, as well as player management systems delivered on its cloud-based iLottery platform.
Sportech first revealed plans to acquire LOT.TO in November last year, just days after the company issued a profit warning and announced the departure of CEO Andrew Gaughan.