Pollard Banknote completes acquisition of Next Generation Lotteries

On January 14, 2021, Pollard Banknote Limited ("Pollard Banknote") announced the completion of its previously announced acquisition of Next Generation Lotteries AS ("NGL"), a leading provider of lottery management and iLottery technology. Pollard signed a definitive agreement to acquire 100% of the equity of NGL on December 30, 2020.

The acquisition purchase price totalled €36 million prior to standard working capital adjustments and certain deferred cash considerations, of which €32 million was paid at the time of closing. Approximately €27.6 million of the €32 million was funded from existing Pollard Banknote cash resources and availability under existing senior credit facilities and approximately €4.6 million through the issuance of 233,211 treasury shares to the vendors. The remaining €4 million will be paid upon the achievement of specific gross margin targets in 2021.

Further information can be found on Canada Newswire’s website.

Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, Schafer Systems and Fastrak retail merchandising solutions, and a full suite of digital offerings, ranging from world-class mkodo game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services.

NGL is a full solution supplier to the lottery industry, including providing a state-of-the-art retail lotto system and iLottery platform, creating a truly omni-channel offering that increases lottery revenues and returns to good causes. With a focus on Europe and Asia, current customers include the operation of the Loteries de Catalunya in Spain and the provision of lottery services in a number of other international jurisdictions including Tunisia and Norway.