Lottery.com, a provider of technology to the digital lottery and sports betting industries, has unveiled a major acquisition agreement that will support its launch and global expansion. According to the announcement, Lottery.com will acquire the Spektrum Ltd division of PlusEVO in an all-stock deal.
Lottery.com Acquires Spektrum in an All-Stock Deal
In its official release, Lottery.com said that the acquisition of Spektrum will support its business, facilitating its launch and permitting further international growth. The former company clarified that the Spektrum technology platform will increase its global penetration and, by extension, rapidly expand its revenue, allowing it to reach profitability sooner.
Lottery.com said that it will acquire Spektrum from PlusEVO in an all-stock deal, paying shares worth $1.5 million for the transaction. The deal will see Lottery.com provide a total of 500,000 shares to PlusEVO over the course of 30 months, worth $3 apiece.
Lottery.com confirmed that this transaction aligns with its overall strategy to expand at an international level. The company noted that the M&A activity and investment in technology mirrors the approach of many of its competitors across Europe, Africa and Asia.
The acquisition of Spektrum furthermore aligns with the company’s established plans to launch and generate revenue from international operations by March 31, 2025. Ownership of its tech stack would allow Lottery.com to achieve superior efficiency, enhance margins and drive long-term value creation.
Lottery.com reiterated its commitment to profitable global growth and generating value in the near term.
Lottery.com Is Off to a Great Start to 2025
Matthew McGahan, Lottery.com’s chairman and chief executive officer, commented on the acquisition. According to him, Lottery.com is off to a great start to 2025, now having secured the technology it needs to launch both domestically and internationally.
McGahan added that this acquisition “brings value everywhere” for his team, enabling new market entries, additional revenue streams and increased value of owning more of its technology. He was optimistic that this move would allow his team to generate more value for its shareholders.
We are very excited to see this evolution of the group unfold from a global expansion perspective but also driving the groups share price by virtue of delivering additional revenue through more global markets.
Matthew McGahan, chair & CEO, Lottery.com
A year ago, Lottery.com encountered some legal difficulties as it was accused of fraudulent misrepresentation described in a lawsuit filed by a supply chain business in Florida.
