French gambling operator Française des Jeux (FDJ) has inked an acquisition deal with Idinvest Partners to acquire Bimedia. Bimedia specializes in point of sale collection and payment solutions.
While the price of the acquisition deal is yet to be announced, the gambling operator said that it would be based on an enterprise value of less than €50m ($55.1m).
Bimedia boasts of 140 employees in France with 6,400 points of sale in the country. While the acquisition is subject to regulatory approval, FDJ is eyeing at advancing its payments services business with the deal.
Last week, the French Lottery and Betting operator had its shares listed on the stock market. As soon as the share hit the market, it surged to a peak of €23.10 ($25.60) by 10:35 am.
Initially, the shares were made available to institutional investors and the price set was €19.90 as the market opened. But the prices surged and hit €23 each.
The listing of FDJ shares is a part of President Emmanuel Macron’s government’s plan to disinvest government shareholdings and raise funds to strengthen the country’s dwindling economy.
The state expects to raise €2bn for the state budget from the privatization of FDJ.