The management of mkodo has this morning issued a corporate statement confirming that it has reached a binding agreement to be acquired by Canadian commercial printing firm Pollard Banknote Limited.
Deal terms will see Pollard Banknote pay an initial £7.8 million sum for mkodo assets and IPs, prior to standard capital adjustments. The acquisition will feature further earn-outs based on mkodo’s future EBITDA performance.
Founded in 2001 by the enterprise team of Stuart Godfree (MD) and Sue Yoxall (Executive Director), mkodo is recognised as one of the first specialist studios developing mobile apps for the betting sector.
Co-founder and MD, Stuart Godfree said: “We are excited to join the team at Pollard and look forward to expanding our reach in the gaming world in collaboration with our new colleagues. Not only do we see a great cultural fit with the two organizations but joining the leading lottery partner will allow mkodo to take the next step in its ongoing evolution as the foremost supplier of mobile lottery solutions in the world.”
Diversifying its business verticals and focusing on mobile led innovations and product development for land-based gambling organisations, has seen mkodo become a leading developer for lottery operators.
British ColumbiOperating as the only development studio certified by the World Lottery Association mkodo lottery clients include the Atlantic Lottery, Danske Spill and the British Columbia Lottery Corporation (BCLC)
Sue Yoxall added: “We have grown mkodo organically over the past 18 years into a market-leading technology player in the betting, gaming and lotteries sector. Pollard Banknote is an excellent fit with mkodo at this stage in our development – having the longevity of experience, excellence in product range, and an understanding of the value their team members and partnership relations. We believe that together we will be able to leverage our complementary capabilities to bring innovative and exciting digital products and apps to the global lotteries industry.”
Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high-quality instant ticket products, licensed games, Schafer Systems and Fastrak retail merchandising solutions, and a full suite of digital offerings, ranging from game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services.
“We are very excited to have the talented mkodo team join Pollard and we look forward to bringing their proven gaming-focused technology and vast experience to the lottery industry and other markets”, stated Doug Pollard, Co-Chief Executive Officer, Pollard Banknote.
“Working alongside our existing lottery resources within Pollard, we will be able to expand mkodo’s reach into some of the leading lotteries worldwide. At this current time of heightened digital focus and rapid development within lotteries and gaming organizations, being able to bring to our current and future customers the technological and customer-facing expertise of mkodo is a game-changer”