Jumbo Interactive wants to acquire Starvale With an agreement of $ 20 million, all to expand further globally.
In fact, this acquisition comes immediately after the purchase of Gatherwell in the United Kingdom of 2019. But also after the recent acquisition proposal agreed in August 2022 for Stride Management in Canada.
But let's see this acquisition in more detail, and i jumbo's future plans Interactive, in this article drawn up by our experts in the sector.
What is Jumbo?
Jumbo Interactive, the company that wants to acquire Starvale for over 20 million $, operates globally and produces, as well as operating, lottery.
Founded in Australia in 1995 by Mike Veverka, now has over 150 employees and is included in the Asx 300 as Jin.
Dal 1999 manages and operates Lotterie Both in Australia and in other countries of the world, where it has expanded above all in recent years.
The agreement between Jumbo Interactive and Starvale
Jumbo Interactive wants to acquire Starvale thanks to a agreement from 20.3 million $, with which he would become to 100% owner of Starvalenull That is, it would take both management External lotteries of the United Kingdom that Starvale Group. The latter is the company owner of DDPay Ltd which deals with digital payments.
The company said that Being able to access digital payments solutions Offered by DDPAY, including direct debit services, it would reduce management costs for Gatherwell and the various business in the United Kingdom.
Moreover, this acquisition would allow Jumbo to exploit his platform Powered By Jumbo (PBJ) in a growth at the level of users.
If Jumbo Interactive who wants to acquire Starvale managed to conclude the agreement, which at the moment It is still under approval by the Great Britain Gambling Commission, Starvale would become part of the Company segment of services managed by Jumbo, with scree and Gatherwell.
Jumbo Interactive and Starvale: the statements
On Jumbo Interactive and Starvale, Mike Veverka, founder and managing director of Jumbo, said: “We identified Starvale as One of our best acquisition opportunities in the United Kingdomnull The reason is given their scale and leadership position in the charity lotteries market, strong brands, cultural alignment with jumbo and their talented leadership team ".
And he also added: "The acquisition helps to accelerate our strategy to grow internationallynull In addition that it adds significantly more scale to our services of services managed in the United Kingdom ".
“I am happy that Starvale will soon join the Jumbo family. NI can't wait to work with Jumbo to continue supporting our customers who operate in charity and non -profit to raise vital funds for their good causes. ", on the other hand, said the founder and director of Starvale, Phil Magleave.