Poste Italiane buys Lis for 700 million

Italian postthrough the subsidiary PostePaycompleted the acquisition of the company specializing in proximity payment solutions Lis. The operation, concluded with International Game Technology, comes after obtaining the necessary regulatory authorizations and from the competition authorities. The consideration for the purchase of 100% of the share capital of Lis, as stated in a note from Poste, is equal to 700 million eurosincluding the conventionally agreed net cash available of 70 million, as announced on February 28, 2022.

Lis identikit: services and financial performance

“As a long-standing business partner of Poste Italiane, Lis uses a platform paytech proprietary and distinctive skillsas well as a highly qualified management team and is active in the Italian market of proximity payments through a network of approx 54 thousand affiliated sales points”Explains the group. In practice, Lis offers services including payment of bills, prepaid payment cards, telephone top-ups and vouchers, as well as solutions for merchants and businesses. It also provides integrated management of all the back-office activities of the point of sale and of the payment and commercial services provided to customers.

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In 2021 the company generated a gross turnover of 228 million and an Ebitda of 40 millionwhile in the first half of 2022 a gross turnover of 132 million was recorded and an Ebida (+ 16% year on year) of 24 million.

The integration of Lis into the Poste Italiane strategy

In line with the integrated omnichannel strategy at the heart of the “24Si” plan, PostePay will consolidate its leadership in the payments market and in the ecosystem of digital services leveraging Lis’s technological know-how to expand its product offering and strengthen the solutions dedicated to SMEs.

“The acquisition of Lis represents the most significant financial acquisition transaction in the history of Poste Italianetestifying to our commitment to increase our market share in the fast-growing payments segment, strengthening PostePay’s positioning as a leading company in the paytech sector “, comments Matteo Del Fante, CEO and General Manager of Poste Italiane. “Full control of Lis’s proprietary platform combined with the internalisation of technological know-how will allow us to advance further in the implementation of our omnichannel strategy and in the area of ​​payment solutions”.

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