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The French state gambling monopoly Francaise des Jeux has announced its acquisition of LVS, a software provider and supplier to the French giant. The sale comes only months after FdesJ commissioned an online fixed odds sports betting platform from the software firm.
Christophe Blanchard-Dignac, chief exec of FdesJ commented this week: "This is an important acquisition in the context of the opening of the French online betting market to competition. By buying this company, La Française des Jeux reinforces its technological control on the overall activity - sports betting and lotteries - in the stake of the safety of our customers."
The purchase price has not been disclosed.
LVS chief executive Simon Ordish said: "We're delighted that La Française des Jeux has chosen to strengthen even further the successful relationship we already have. It will enable us to take the business to the next level and exploit new opportunities."
LVS has offices in the United Kingdom and Gibraltar and employs some 40 persons, currently working on a live betting platform for FdesJ.
FDJ's sports bets produced sales worth €783 million in 2009, about 8% of revenues. The company has ambitions to reach €1 billion in online sports bets by the end of 2010.
Source: InfoPowa News