Announced
Completed
Financials
Tags
payment services
Single Bidder
Domestic
Payments / Commerce
Acquisition
Italy
Majority
Friendly
Private
Completed
Synopsis
PostePay, a reloadable prepaid card service provider, completed the acquisition of the Italian proximity payment business from International Game Technology, a firm that designs and manufactures computerized casino gaming systems, for $788m. "This transaction provides us with an opportunity to monetize IGT's market leadership in the Italian proximity payment business at an attractive value as we continue to execute our long-term strategy. Streamlining our products and solutions portfolio enables us to focus our efforts and resources on our core and strategic assets, as we position IGT for industry leadership and increased shareholder value," Vince Sadusky, IGT CEO.
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