Playtech In Acquisition Agreement With Ava Trade Ltd
By Casinomeister, Last updated Jul 3, 2015
Agrees Euro 200 Million credit facility
Playtech subsidiary TradeFX Limited has entered into a share acquisition agreement with Ava Trade, an online B2C CFD broker, for a $105 million consideration.
Completion of the Transaction is conditional on approval from Playtech's shareholders and relevant financial services regulators.
"The acquisition of the Ava Group is another important milestone in Playtech's strategy to expand and enhance its overall technology offering through multiple vertical markets," said Mor Weizer, chief executive officer of Playtech.
"Since the recent earnings-enhancing acquisition of TradeFX and the creation of our financials division we have sought further opportunities to broaden our reach into this vertical."
In related news, Playtech has agreed a Euro 200 million unsecured revolving credit facility with Barclays Bank PLC and Royal Bank of Scotland plc, which will, together with existing cash resources, be made available to fund acquisitions and further Playtech growth initiatives.
Online Casino News Courtesy of Infopowa
The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
bryan@casinomeister.com
Top 5 casinos
