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Lottomatica’s GTECH subsidary completes final stage of acquisition of 100 percent of Atronic from Gauselmann Group
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2008/05/13
Total Enterprise value of approximately €189 million, including debt
ROME (ITALY) – PROVIDENCE, RHODE ISLAND (U.S.), May 13, 2008 – Lottomatica S.p.A.'s wholly-owned subsidiary, GTECH Corporation, announced that it has acquired the remaining 50 percent interest in the Atronic group of companies owned by privately-held Gauselmann Group for €32 million in cash. This completes the final stage of a two-part transaction. As previously announced, GTECH completed the first stage of the transaction in January 2008, when GTECH acquired a 50 percent controlling interest in Atronic for €20 million.
The overall transaction has a total value of approximately €189 million, which includes approximately €137 million of debt.
Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider – a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2007, had approximately €1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
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