The Australian lottery firm has acquired 100 per cent of StarVale Group, a UK external lottery manager (ELM) and digital payments company.
Australia.- Jumbo Interactive Limited has announced it has acquired the UK-based StarVale Group through Jumbo Interactive UK Ltd. StarVale serves over 850,000 active lottery players across over 45 charities and non-profit organisations, many of which are major UK charities.
According to the company, the acquisition of StarVale is “transformational for Jumbo’s international expansion strategy and follows the successful acquisition of UK-based Gatherwell Ltd.”
StarVale also owns DDPay Ltd, a digital payments company that facilitates direct debit payments and provides cost-effective direct credit payment solutions to StarVale’s weekly lottery customers.
Jumbo Interactive CEO and founder Mike Veverka said: “We identified StarVale as one of our top acquisition opportunities in the UK given their scale and leadership position in the charity lottery market, strong brands, cultural alignment with Jumbo, and their talented leadership team.
“The acquisition helps accelerate our strategy to grow internationally and adds significantly more scale to our Managed Services business in the UK.”
Starvale director and founder Phil Magleave added: “I’m delighted that StarVale will soon join the Jumbo family and am looking forward to working with Jumbo to continue supporting our charity and not-for-profit clients raise vital funds for their ‘good causes’.
“With ongoing changes in technology and increased digitisation expected in the lottery industry, the acquisition by Jumbo will expand its product range and the opportunities available to its valued clients – and grow what is already a highly successful business.”