Playtech’s Forex acquisition spree goes ahead. The gaming technology holding company has signed a deal to buy AvaTrade for $105m. The company also agreed a €200m revolving credit facility with RBS and Barclays for further acquisitions.
Eligible Investment Finally Done
Playtech Plc, a leading gaming technology provider, pushes forward by expanding into the financial trading market. The company, which now owns TopOption and Markets.com, recently announced its purchase of AvaTrade, Ireland-based online Forex broker, for $105m. According to Playtech, the company is going to use the acquisition to extend its financial trading platform development.
Since April, Playtech has started its foray to the financial market by purchasing a Forex trading platform, Trade FX, for $224m. And the company doesn’t seem done by now and is still on a hunt for Plus500 Ltd, a famous Israel financial trading operator, having made a bid of £460 this June. Also, Playtech recently stated that it has been granted $220m in unsecured credit by Royal Bank of Scotland and Barclays Bank, to target more acquisitions.
Mor Weizer, Ava Trade Playtech’s CEO, stated that acquiring AvaTrade was a valuable milestone in Playtech’s strategy that is going to expand their technology and create more opportunities to broaden their reach into the market.