Knights’ Corporate team has advised the shareholders of UK external lottery manager and digital payments company Starvale Technical Systems and DD Pay Limited on its recent sale in a deal worth over £21 million.
Starvale is one of the UK’s leading providers of weekly lotteries – reaching an estimated 850,000 people each week through lotteries run by charities and not-for-profit organisations, with many of these being major UK charities.
The business has been acquired by Australian listed company Jumbo Interactive following an exchange of contracts that was announced back in January and completion took place on the 1 November following approval of the takeover from the UK Gambling Commission.
Corporate Partner Luke Rees led Knights’ team of specialists with assistance from Sommer Kelly.
The sale supports Jumbo’s strategy to broaden their foot print in the UK and to drive further scalability and growth, but they will continue to benefit from the knowledge and experience of the outgoing principal who will remain as an integral part of the business moving forward.
Luke Rees, Corporate Partner at Knights, said:
“We are really pleased to have supported the shareholders of Starvale on the sale of the company. The matter was long running and complex at times, but it was great to get it over the line with the support of the other Knights teams.
“The clients were a pleasure to work with and the future of the business as part of Jumbo Interactive looks very bright indeed”.
Knights is one of the fastest-growing legal and professional services businesses in the UK – ranked within the top 50 UK law firms by revenue, with specialists in all key areas of corporate and commercial law.