|Aitken Spence and Co, in partnership with Gtech Holdings has won a 10 year integrated services contract from the Mahapola Higher Education Scholarship Trust Fund (MTF) to provide online, instant and passive lotteries.|
Gtech’s core market which is transaction services processing in the lottery industry, with a growing anticipates launching the new system in mid-2004 generate revenues in excess of $100 million over the life of the contract.
Gtech the German company disclosed that its wholly-owned subsidiary, Gtech Sri Lanka has signed a 10-year integrated services contract with the MTF to be the provider of online, instant, and passive lottery technology and management services in Sri Lanka with a five-year extension option and follows a competitive procurement process that involved eight other bidders.
MTF is one of the leading and respected higher education scholarship trust fund in Sri Lanka. The US$1 billion Gtech is one of Germany’s leading technology companies with 4,900 people in 43 countries, provides software, networks, and professional services that power high-performance, transaction processing solutions.
Commerce and Consumer Affairs Minister Ravi Karunanayake said that diversifying into lottery is not a new concept to MTF as earlier educational scholarships were implemented with support of an offline lottery in 1980.
Under the terms of the agreement, GTECH will deploy the Company's Enterprise Series architecture, featuring IP web-component technology. In addition, GTECH initially will install approximately 1,000 Altura(R) terminals on an
island-wide IP-based communications network.
Gtech Lanka would be working with Sri Lankan conglomerate, AitkenSpence &Co. Ltd. (ASC) to deliver the terms of the contract.