Jumbo Interactive, one of the biggest digital retailers of national jackpot lotteries and charity lotteries in Australia, has announced that it is ready to continue its expansion in the United Kingdom with the acquisition of StarVale Group.
The Australian company announced that it will pay 32.1 million Australian dollars to take over StarVale Group, which is an external lottery manager and digital payments business in the United Kingdom.
The transaction will be executive through Jumbo Interactive UK, a new entity that was set up by the Australian company in the United Kingdom. In addition to the aforementioned initial acquisition fee, Jumbo also agreed to pay up to 8.5 million dollars in deferred payments, which are subject to StarVale achieving its earnings targets.
This acquisition is a further step in Jumbo’s strategy to expand in the United Kingdom, a plan which started with the purchase of Gatherwell in December 2019. Through Gatherwell, Jumbo secured a remote gambling software operating licence from the British Gambling Commission last year.
StarVale provides its services to over 850,000 active lottery players across over 45 charities and not-for-profit organisations in the United Kingdom. Moreover, StarVale Group also includes DDPay Limited, a digital payments business that supplies payment solutions to the company’s lottery clients.