M&A News

Sydney-listed lottery provider Jumbo Interactive is preparing to enter the UK market through a conditional agreement to acquire Oxford-based external lottery manager Gatherwell.

Jumbo will pay an initial consideration of £3.0m in cash to acquire the business, with a further £2.0m to be paid if certain revenue and profit targets are met.

Gatherwell was founded in 2013 to help social causes raise funds through lotteries, with its first product, Your School Lottery, assisting schools across the United Kingdom.

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