Pollard Banknote Limited recently issued more information on the acquisition that was announced back in December 2019. It is going to make it possible for mkodo Limited to become one with the leading lottery powerhouse and enhance its offerings. The latest announcement coming from Pollard Banknote claims that the said acquisition has been finished making it a successful one.
It could be recalled that the beginning of December 2019 saw the announcement of an acquisition in the works, as Pollard Banknote was ready to implement something new to its offerings and enhance its future work. This would be possible thanks to everything mkodo has up for grabs. Back in 2019, the lottery powerhouse penned a definitive agreement for the complete acquisition.
As a result of this agreement, Pollard Banknote positioned itself well for future operation with some of Canada’s leading lottery corporations demanding excellence and new features introduced on a regular basis. Following the initial announcement, the agreement had to receive some standard regulatory consents, in addition to third-party ones, making it possible. As of this week, they have all been secured.
Pollard Banknote is expected to enhance its offerings with the experience mkodo has as an industry-leading company. It is known for the mobile applications it brings to life, most of them used by lottery corporations willing to become even more accessible for players. Mobile offerings are the way to go now and companies want to speak their customers’ language. Ever since 2001, mkodo has been working towards its excellence.
Doug Pollard, Co-Chief Executive Officer, stated that the time is right for the acquisition that would further enhance the way payers interact with their preferred lottery platform. Now that this initial phase of the process is completed, it is time for the integration one to commence. Projections are that it would be a seamless one, making it as smooth as possible for the two companies to become one.
Now it is Time for Integration
The acquisition itself amounts to £7.8 million or about CA$13.5 million and it was confirmed that the amount is going to come from the senior credit facilities associated with Pollard Banknote. The lottery provider made it clear that mkodo is the partner it needs right now, confirmed by the acquisition announcement. Canadian lottery corporations have already experienced the professionalism mkodo has in store.
Most of the Canadian lottery corporations work in close collaboration with the developer, powering their lottery apps. Back in 2019, the Western Canada Lottery Corporation collaborated with mkodo on its mobile lotto app available on the AppStore and Google Play. The year 2020 is projected to see the new competitive mobile lottery app, allowing players to scan their tickets in a quick and easy manner, as to check whether they win or not.
Players hailing from Alberta, Saskatchewan, and Manitoba, in addition to Yukon, Northwest Territories and Nunavut will have the chance to enjoy the premium technology in the upcoming months. Pollard Banknote works closely with British Columbia Lottery Corporation, Ontario Lottery and Gaming Corporation, Loto-Québec, Atlantic Lottery Corporation, and Western Canada Lottery Corporation. This happens via the Instant Printing Services Agreement with the Interprovincial Lottery Corporation.