Please enable JavaScript in your web browser settings, under the site permissions section to unlock full site functionality. Click here for help.

Article Image - Playtech forays into FX trading market with $224 million buy

Posted 2nd July 2015

Playtech forays into FX trading market with $224 million buy

Gambling technology company Playtech is set to enter the forex trading market after agreeing a deal to buy a majority stake in TradeFX for 208 million euros ($224 million).

Scroll to keep reading

Playtech forays into FX trading market with $224 million buy

View Biography

View Biography

Gambling technology company Playtech is set to enter the forex trading market after agreeing a deal to buy a majority stake in TradeFX for 208 million euros ($224 million).

Playtech provides software used in sports betting and online casino and poker games and counts Betfair, William Hill and Paddy Power as its licensees.

TradeFX, a trading platform and payment services provider is majority owned by a trust for the benefit of Israeli billionaire Teddy Sagi, Playtech’s largest shareholder.

“We intend to offer TradeFX trading platform to all of Playtech’s licensees and other gaming companies, given the fact that the trading platform is complementary to gaming companies’ operations,” Playtech’s Chief Executive Mor Weizer told Reuters.

Playtech shares rose as much as 5% on Thursday morning, and were up 3.1% at 801p by 1022 GMT.

The deal is expected to generate both cost and revenue synergies and would help Playtech enhance its customer base and enter new markets as TradeFX operates in more than 100 countries.

The Isle of Man-based Playtech said it will buy a 91.1% fully-diluted stake in TradeFX, known for the brand markets.com, with an additional payment of up to 250 million euros based on future performance.

Markets.com provides foreign exchange and CFD (contract for difference) trading platforms, including the popular MetaTrader 4 platform.

The gambling industry is looking for ways to bolster growth through acquisitions in light of increasing taxes and regulations in some of its biggest markets.

Playtech is gaining the benefits of a partnership with British gambling company Ladbrokes to distribute all of its Live Games, across all platforms including desktop and mobile.

It also launched its casino products via the online site of Mexican gaming operator Grupo Caliente last year.

“With sustainable earnings growth and potential for earnings-accretive M&A, Playtech remains the top pick,” analysts at Exane BNP Paribas said.

Weizer said gaming remained the core business of Playtech.

Canaccord Genuity is the sole sponsor and a joint financial adviser for the deal while UBS Investment Bank is a joint financial adviser.

Categories: Finance, M&A

You Might Also Like

ARQIS advises Oerlikon on the acquisition of AC-Automation

25/04/2018ARQIS advises Oerlikon on the acquisition of AC-Automation

ARQIS has advised Oerlikon on the acquisition of German-based AC-Automation GmbH & Co. KG.

CREALOGIX’s acquisition of MBA Systems

19/03/2015CREALOGIX’s acquisition of MBA Systems

CREALOGIX has acquired MBA Systems, a well-established UK fintech brand and leading supplier of innovative web-based solutions and services to the securities and wealth management industries. With this move, CREALOGIX - the Swiss based technology group ranked

relayr Completes Second Strategic Acquisition

28/02/2017relayr Completes Second Strategic Acquisition

relayr, the global enterprise Internet-of-Things (IoT) platform provider, announces its second strategic acquisition within two months.

The Role of Ventilation Systems in Adapting Business Facilities for Hybrid Work Models

21/10/2024The Role of Ventilation Systems in Adapting Business Facilities for Hybrid Work Models

As more businesses begin to embrace the hybrid work model, the importance of adapting physical office spaces to ensure health, safety, and productivity continues to rise. Among other factors, efficient ventilation systems play a crucial role in this adaptation

Mediation & Dispute Resolution – the Holistic Approach

13/02/2017Mediation & Dispute Resolution – the Holistic Approach

Vanessa Lloyd Platt tells us about her firm, its innovative approach, and what sets it aside from the competition.

Malicious Intent Outweighs Technology as Biggest Threat to Personal Data

15/03/2019Malicious Intent Outweighs Technology as Biggest Threat to Personal Data

Against the backdrop of a complex and growing cyber threat landscape, organisations are waking up to the fact that one of the biggest chinks in their armour against a data security breach is humans. In fact, a staggering fifty two percent of respondents believ

Brexit – The Tax Aspects

03/06/2016Brexit – The Tax Aspects

Britain leaving the European Union (commonly coined “The Brexit”) has sparked a lively nationwide debate. Opinion polls are split, and even the President of the USA has waded into the muddied waters to give the ‘stay’ campaign some more weight.

Unrivalled Technical And Service Support

09/02/2021Unrivalled Technical And Service Support

Water and energy solutions provider, Davis & Shirtliff, is a well-established brand in the East Africa region and is known for providing high quality products that are readily available and at competitive prices. Recently, we caught up with the firm’s He

Dispute Resolution Specialist

04/09/2019Dispute Resolution Specialist

JAMS is renowned for the first class service that it offers in its field across the US and internationally too. Recently, Lorraine Brennan of JAMS was recognised for her outstanding work in AI Leading Adviser Awards 2018

View More Articles

Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

MORE BRANDS