November 25, 2019 / 6:34 AM / 17 days ago

French lottery group FDJ buys software company Bimedia

FILE PHOTO: Logo and grids of French lottery group Francaise des Jeux are shown in this illustration picture taken in Bordeaux, France, November 19, 2019. REUTERS/Regis Duvignau/Illustration

PARIS (Reuters) - French lottery operator FDJ (Francaise des Jeux) (FDJ.PA), whose high-profile privatisation was launched by the government this month, on Monday said it would buy software publisher Bimedia.

FDJ said its acquisition of Bimedia, which specialises in software dealing with payment solutions, would be based on an enterprise value of less than 50 million euros ($55.1 million).

FDJ’s stock market flotation was one of the biggest in Europe this year. It forms part of French President Emmanuel Macron’s plans to sell state shareholdings in certain companies to raise money to fund innovation projects and boost the overall economy.

Reporting by Sudip Kar-Gupta; Editing by Himani Sarkar

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