Lottery.com Enters Agreement to Acquire Spektrum Ltd.
Deal News | Mar 06, 2025 | Globenewswire
Lottery.com Inc., a leading technology company in digital lottery and sports entertainment, has announced a Stock Purchase Agreement with PlusEVO Ltd. for its wholly-owned subsidiary, Spektrum Ltd. This transaction, valued at $1.5 million, provides Lottery.com with a strategic technology platform to bolster its international expansion plans. The acquisition involves the issuance of 500,000 shares of restricted common stock over a 30-month period, priced at $3 per share. This acquisition is a pivotal part of Lottery.com's ambition to launch and generate revenue from international operations by the end of Q1 2025. The strategic acquisition is set to enhance Lottery.com's operational efficiencies, establish robust revenue streams, and further its global footprint. CEO Matthew McGahan articulates the transaction as a core aspect of Lottery.com's commitment to driving shareholder value and capitalizing on emerging global market opportunities. This acquisition marks Lottery.com's decisive step towards achieving its goal of profitable global growth.
Sectors
- Technology
- Entertainment & Gaming
- Financial Services
Geography
- United States – Lottery.com is based in Fort Worth, Texas, and is a key participant in the transaction.
- International – The acquisition aligns with Lottery.com's international expansion strategy targeting Europe, Africa, and Asia.
Industry
- Technology – Involved due to Lottery.com's focus on acquiring technology platforms supporting its operations.
- Entertainment & Gaming – Relevant because Lottery.com is involved in digital lottery and sports entertainment.
- Financial Services – Pertains to the deal structure involving stock purchase agreements and transactions.
Financials
- $1.5 million – The total value of the stock purchase agreement for acquiring Spektrum Ltd.
- $3 per share – The valuation per share for the 500,000 restricted common stocks issued as part of the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lottery.com Inc. | Buyer | Company | A technology firm in digital lottery and sports entertainment. |
| PlusEVO Ltd. | Vendor | Company | The company selling its wholly-owned subsidiary, Spektrum Ltd., to Lottery.com. |
| Spektrum Ltd. | Target Company | Company | The subsidiary of PlusEVO Ltd. being acquired by Lottery.com. |
| Matthew McGahan | Chairman and CEO | Person | The CEO of Lottery.com, leading the strategic acquisition. |