FDJ acquires payments company following IPO
Newly publicly listed company acquires Bimedia as part of firm’s 2020-25 strategy
Française des Jeux (FDJ) has acquired payments company Bimedia in what is the group’s first deal since it became a publicly-listed company last week.
The acquisition cost has not been confirmed but is based on the business being valued at an estimated €50m.
Bimedia currently operates 6,400 points of sale in France, with 90% of those being situated within tobacconists and newsagents. The company employs 140 people.
FDJ said the acquisition of the business will enable it to accelerate the development of its payments and services business in line with its 2020-2025 strategic plan.
The strategy aims to build the business following the award of formal exclusivity on retail lottery operations and to strengthen its sports betting business through increased digitalisation and international expansion.
Three main pillars form the base of the 2020-2025 strategy, including maintaining the momentum of its lottery operations by strengthening customer relations and accelerated digitalisation.
As part of its strategy of strengthening relations with French players, FDJ has committed 10% of its spend on TV advertising towards responsible gambling-led messaging.
The second pillar aims to accelerate the acquisition of online sports betting market share while maintaining growth in its retail point of sale sports betting business.
This strategy has seen the group acquire British sports betting tech supplier Sporting Solutions earlier this year.
The deal included Sporting Group’s B2B arm Sporting Solutions, spread betting B2C firm Sporting Index and proprietary trading arm Touchbet.
The final pillar aims to strengthen the groups business model by developing so-called “adjacent” activities, such as payment services like Bimedia.