"Important capital inflow based on
value created in the short period of time"
Iddaa, the sports gaming platform was established as Inteltek A.S. by Turkcell, Intralot of Greece and Teknoloji Holdings in April 2001. Teknoloji Holdings is a fully-owned subsidiary of Hitay Holdings.
After a successful launch and rapid growth of the business, Hitay has decided to dispose its 20 percent stake for a consideration of US$80 million to Intralot. Hitay has achieved an important of foreign direct investment to Turkey in respect of time-dependent value.
Iddaa has proven to be the perfect model to reengineer the sports gaming business in Turkey, which is controlled by the Spor Toto. The Authority's revenues jumped from US$17m in 2002 to the current level of US$ 3.5 Billion. Iddaa has played a critical role to earn more revenues for the Authority, tax office and football clubs.
"Payment systems market is developing
Hitay sold its full share in Planet Elektronik A.S. to the French company Ingenico in consideration of 26 million Euro in July 2007. Turkish payment systems market has entered a dynamic period due to development of EMV-standard payment terminals technology, development of successful product in the competitive banking industry in Turkey, and high demand in the field of payment systems. Ingenico aims to make its current works more integrated in this field as a consequence of this acquisition, whereas Hitay has directed to invest in any other industries with the proceeds it generated.