Playtech buys foreign currency trading platform TradeFX for $224m

gambling platform utility enterprise Playtech plc LSE:PTEC is buying a jadwal sepak bola piala dunia antarklub controlling stake in foreign currency trading platform TradeFX for $224 million. Israeli billionaire Teddy Sagi holds a controlling stake in each companies.

Playtech’s greatest purchasers include William Hill, Paddy vigor, Betfair and Intergame Gala-Coral and the business additionally has a partnership with Ladbrokes. TradeFX is a buying and selling platform and fee services company.

Playtech CEO Mor Weizer instructed Reuters, “We intend to present TradeFX buying and selling platform to all of Playtech’s licensees and different gaming organizations, given the indisputable fact that the trading platform is complementary to gaming agencies’ operations.”

Playtech shares rose 2.38% on Thursday. The deal is expected to supply can charge and revenue synergies and support Playtech expand its customer foul and enter new markets as TradeFX operates in more than 100 nations.

Playtech will purchase a ninety one.1% stake in TradeFX, which could get hold of an further €250 million in milestone funds. through its Marketsm company, TradeFX gives international alternate and CFD contract for difference trading systems, together with its MetaTrader 4 platform.

Canaccord Genuity acted as sole sponsor and as a joint economic adviser with UBS.

posted by means of Globes online, Israel enterprise news – .globes-on-linem – on April 5, 2015

of Globes writer Itonut 1983 Ltd. 2015