Gaming technology provider Playtech today revealed it has received regulatory approvals for the completion of the sale of its financial division Finalto (formerly known as TradeTech).
Hong Kong-based Gopher Investments has agreed to acquire the company in an all-cash offer of $250 million. In December last year, Playtech shareholders voted to accept the offer to sell Finalto, which operates the brand Markets.com.
Playtech’s announcement stated:
In line with the sale and purchase agreement with Gopher Investments, the Company now expects completion to occur on 30 June 2022, being the last day of the month in which regulatory approvals were received.
The group also detailed that the completion of the deal is a step to simplify its strategy. Playtech shared that it aims to focus on technology-led offering as a pure-play business in the B2B and B2C gambling markets.
Meanwhile, Playtech is currently in talks over its acquisition of Gopher’s parent company TTB Partners, group of investors. Playtech’s CEO, Mor Weizer, and former Director, Thomas Hall have expressed interest in participating in the TTB Investor Group which is planning to make an offer.
TTB has not made an official offer yet and is still in the process of evaluating Playtech’s position. Playtech recently gave the investors time until 17 June, 5.00 pm to confirm their intention of a possible offer for the acquisition of the gaming technology provider.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.