Playtech shares skyrocket after £2.1bn acquisition bid from Australian firm 

London-listed playing tech enterprise Playtech shares skyrocket 60% after £2.1bn takeover bid from Australian agency

  • Playtech offers software program for on-line casinos and on-line sports activities betting
  • Deal to create one of many largest B2B platform suppliers within the gaming trade

FTSE 250 playing tech agency Playtech noticed its share worth rise by practically 60 per cent at present after it emerged that Australia’s Aristocrat Leisure is about to purchase the enterprise at a valuation of £2.1billion.

Aristocrat mentioned it had reached an settlement to purchase Playtech in a money provide of 680p per share, which represents a premium of round 58.4 per cent to its 15 October closing worth of 429.2p.

Playtech’s board will really helpful unanimously in favour of the acquisition.

Aristocrat highlighted Playtech’s ‘actual cash gaming’ expertise and its platform capabilities as key drivers of the deal.

Based in 1999 by the Israeli entrepreneur Teddy Sagi, Playtech offers software program for on-line casinos, on-line poker rooms, on-line sports activities betting, cell gaming, and a bunch of different betting platforms.

Aristocrat is a worldwide provider of premium gaming content material and expertise, and one of many world’s prime publishers of digital video games.

The Australian agency instructed buyers on Monday the acquisition is in step with its progress technique and can ‘create one of many largest business-to-business platform suppliers within the world gaming trade’.

Aristocrat highlighted Playtech’s ‘actual cash gaming’ expertise and its platform capabilities as key drivers of the deal.

It mentioned the deal would ship medium-term income and earnings progress, specifically within the fast-growing North America market, and assist each corporations to satisfy a broader vary of buyer and participant wants.

To ensure that the deal to undergo, it must be permitted by a minimum of 75 per cent of Playtech.

Playtech shares are up 56.6 per cent this morning to 672p, with year-to-date efficiency of 63.5 per cent.

Chairman of Playtech Brian Mattingley mentioned: ‘Lately, Playtech has efficiently repositioned its world main playing expertise and operations, increasing in strategically essential regulated markets and driving main on-line B2B income progress.

‘While the enterprise has made vital progress, most notably within the Americas, Aristocrat’s proposal offers a sexy alternative for shareholders to speed up Playtech’s longer-term worth.’

CEO Mor Weizer added that the deal ‘marks an thrilling alternative within the subsequent stage of progress for Playtech’, delivering ‘vital advantages to our stakeholders, together with our clients, our shareholders and our extremely proficient individuals’.

He mentioned: ‘This deal has the potential to reinforce our distribution, our capability to construct new and deeper relationships with companions, and bolsters our technological capabilities.

‘The mix of our two corporations builds one of many largest B2B gaming platforms on the planet, with the individuals, infrastructure and experience to offer our clients with a very best-in-class provide throughout all areas of gaming and sports activities betting.’ 


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