LONDON-- Online gambling technology group Playtech PLC (PTEC.LN)
Thursday announced a move into financial derivatives trading with
the acquisition of trading platform provider TradeFX Ltd for 208
million euros ($227.7 million) in cash plus a possible EUR250
million depending on future performance.
The acquisition, which is of a 91.1% stake, "provides entry into
a highly complementary new market vertical where our combined
operational superiority will enable exciting growth opportunities,"
said Playtech Chief Executive Mor Weizer.
Playtech will still have "significant resources to continue to
pursue further acquisition opportunities" after the purchase, he
added.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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