December 15 - Playtech Limited has agreed to pay €10.8 million for
the acquisition of leading gaming solutions provider, Gaming Technology
Solutions (GTS), with the option of increasing that sum to €21.6 million -
depending on GTS's performance over the next two years.
The acquisition deal will provide Playtech will new customer bases, due to
GTS's strong presence in the gambling world.
GTS currently provides gaming solutions to many of the most popular brands in
Europe, boasting fifteen licensees and deals with thirty internet brands.
Ten of the brands are not affiliated to Playtech, thereby increasing
Playtech's exposure significantly.
The Business Development Directof for GTS, Steven Matsell outlined why the
new acquisition deal would work.
"Our strategy is very much in line with Playtech's:" he said. "To be the
recognized market leader as a dedicated business to business software provider."
"This deal will underpin the growth of the platform and we very much look
forward to the future as part of the Playtech team," he added.
"We are delighted to welcome the GTS team, which will enhance our
capabilities in an important complementary product area by bringing a
sophisticated technology platform and a portfolio of top quality games as well
as a suite of new clients," said the Chief Executive for Playtech, Mor Weizer.
"The success of the games section in sports betting operators' sites is
evident and this deal will give Playtech greater exposure to what is one of the
fastest growing industry segments. GTS has among its licensee base many of the
most well established European sports betting operators and we look forward to
developing closer ties with them."
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