Mergers and Acquistions News
Categories: IT Services & Consulting
December 19th 2011, 15:54PM
The world’s largest publicly-traded online gaming software supplier, Playtech, has acquired interactive gambling and betting company Ash Gaming in a £23 million takeover deal.
Through the acquisition, the company will combine expertise and take advantage of Ash Gaming's existing licensee base, strengthening Playtech's relationship with operators in the UK, Europe and other markets.
It also hopes that the move will boost its position as a leader in software and content provision for the gaming industry.
Ash Gaming brings to the deal 40 games operated by 30 licensees. In the six months to October 31st it reprted revenues of £5.3 million and predicts a strong growth trajectory through winning new licensees and developing new games.
Playtech will particularly take advantage of the increasing number of jurisdictions looking to regulate markets in the near future.
"[Ash Gaming] have a fantastic reputation with their licensees for delivering class-leading and innovative content along with a growing presence both in the UK and internationally," commented Mor Weizer, chief executive of Playtech.
"We are very excited about our plans for extending Ash's games to a wider audience and throughout the Playtech casino product."
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