Finsoft Acquired By GTECH
Published: Wednesday, July 04, 2007 Online-Casinos.com
FINSOFT ACQUIRED BY GTECH
East meets West in online sportsbetting deal
Lottomatica S.p.A. announced that its wholly-owned subsidiary, GTECH Sports Betting Solutions Limited, has completed the acquisition of London and Belgrade-based Finsoft Limited, a provider of real-time transaction and information management systems for the commercial sports-betting market.
GTECH entered into an agreement to acquire the outstanding share capital of Finsoft and substantially all of the assets of BEG Finsoft d.o.o. Belgrade, an affiliated Finsoft company and the Serbian-based development centre for Finsoft's sports-betting software operations.
All conditions to the closing of the acquisition have been satisfied including the spin-off of Finsoft's non sports-betting businesses to Finsoft Financial Systems Ltd., and the approval of the Serbian Competition Commission for the sale of Finsoft's Belgrade assets to GTECH.
"The addition of Finsoft allows us to deliver a complete, integrated sports-betting solution to our customers and prospects, including fixed odds, pari-mutuel, betting exchange, and soft gaming via the internet, telephone, retail, interactive TV, and mobile channels, as well as self-service terminals," said W. Bruce Turner, CEO of Lottomatica S.p.A. and GTECH.
"Our goal is to become the world's leading provider of sports-betting technology and content to government-sponsored lottery markets and regulated commercial sports-betting markets, offering a full suite of support and management services."
Finsoft currently employs approximately 145 people in its bookmaking teams in London and Belgrade. GTECH intends to maintain Finsoft's operations in London and Belgrade as an autonomous unit with its separate brand identity.
Finsoft's MarginMaker platform runs some of the most successful and fastest-growing companies in the betting industry, such as Singapore Pools, Chisholm Bookmakers, and Boyle Sports.
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