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Owner Revolution Inc. announces sale of Schafer Systems to Pollard Banknote Limited

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September 26th, 2018 by admin

ADAIR, IOWA–September25, 2018–Owner Revolution Inc.(ORI, Owner Revolution),announced today the signing of a definitive agreement to sell substantially all of the operating assets and business of their wholly-owned subsidiary located in Adair, Iowa, Schafer Systems Inc., to Pollard Banknote Limited (Pollard Banknote), headquartered in Winnipeg, Canada. Upon completion of the transaction, the Adair facility will join Pollard Banknote’s team, focused on serving the needs of lotteries and charitable gaming organizations around the world.

The Schafer Systems brand will remain in place and the business will continue to operate out of the60,000 square foot facility that they have occupied for the past30yearsin Adair. Don Hudak, Owner Revolution’s CEO and President, commented on the pending transaction saying,“The sale of Schafer Systems to Pollard Banknote brings together two organizations that have successfully served the lottery and gaming industries for many years. Working together, they will represent a real powerhouse in the markets and will be able to bring innovative products and solutions to customers at an even higher level. Our employees and the communities we’re in will reap the benefits of this transaction through increased stability and growth.”

Schafer Systems’ product lines will complement the products and services currently provided by Pollard Bank note to its customers, allowing a broader range of solutions to those in the industry. John Pollard,Co-Chief Executive Officer of Pollard Banknote said,“We are very excited to acquire Schafer Systems and add their capabilities to our organization. They have an outstanding reputation in the industry for delivering quality products and custom solutions to meet their customer’s ever-changing needs. I’m looking forward to see what great things we will accomplish working together to drive product innovation and create greater value for our customers.”

Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, and a full suite of digital offerings ranging from game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services. The company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales, and proceeds for good causes. Pollard Banknote also plays a major role in providing pull-tab tickets, bingo paper and its Diamond Game and Oasis-branded electronic ticket machines to charitable and other gaming markets in North America. Established in 1907, Pollard Banknote is owned approximately 67.6% by the Pollard family and 32.4% by public shareholders, and is publicly traded on the TSX (PBL). Pollard Banknote employs over 1,700 people across multiple locations in Canada and the United States. For more information, please visit their website at www.pollardbanknote.com.

ORI is an Iowa based holding company located in Adair and is employee-owned. Besides their Schafer Systems brand of lottery ticket dispensers and promotional displays,ORI owns Blue Wave Ultrasonics in Davenport, Iowa, a leading manufacturer of industrial ultrasonic cleaning systems, providing the most technologically advanced and reliable cleaning systems in the marketplace.