French gaming operator La Française des Jeux (FDJ) has agreed a deal to acquire payment service provider Bimedia from private equity and venture capital firm Idinvest Partners.The deal, which gives Bimedia an enterprise value of under €50m (£42.8m/$55.1m), will be financed using the lottery giant’s cash reserves.
The business was founded in France in 2002, and has since established itself as a key provider of payments, money transfer and advertising solutions to retailers throughout the country.
Its point-of-sale collection and payment software solutions are currently used in more than 6,400 outlets across France, of which 90% are tobacconists and newsagents.
FDJ said that the acquisition would allow it to accelerate the development of its payment and services business, a key element of its 2025 growth plan. A key element of this plan, announced in July this year, is to enhance the range of value-added products and services it can offer its retail network, alongside a commitment to growing its international B2B arm, FDJ Gaming Solutions.
This has already seen FDJ acquire betting technology and trading specialist Sporting Group, comprising the Sporting Solutions B2B business and B2C spread betting operating Sporting Index, for an undisclosed sum.
Announcement of the deal follows the completion of FDJ’s initial public offering last week, which saw the French state reduce its stake in the business to 27.85%. This may be reduced further, should investors snap up an additional tranche of shares made available as part of an over-allotment option.
The state could generate up to €1.89bn through the offering.
