Playtech completes acquisition of 70% of CFH Group

Playtech PLC (LON:PTEC) issued a brief note stating that it has now completed the acquisition of 70% of institutional FX firm CFH Group. The planned acquisition was initially disclosed on November 14.

In a deal in which Playtech will eventually pay up to $120 million for all of CFH Group, Playtech paid an initial consideration of $43.4 million for 70% of CFH’s fully diluted share capital, representing a multiple of approximately 7x the current EBITDA run rate for the company.

Playtech will pay additional consideration for the remaining 30% of CFH which will be subject to a put and call option exercisable in 2019 at a multiple of 6.0x CFH’s adjusted EBITDA for the year ending 31 December 2018. The 2019 payment is capped at $76.6 million, which would bring the total payment to $120 million.

The Playtech news release read as follows:

30 November 2016

Playtech plc

(“Playtech” or the “Playtech Group”)

Playtech completes the acquisition of CFH

Playtech (LSE: PTEC) announces that is has completed the acquisition of 70% of Consolidated Financial Holdings A/S, a technology company with products including a leading Straight Through Processing brokerage which provides retail brokers with multi-asset execution, prime brokerage services, liquidity and complementary risk management tools.

Playtech expects to acquire the remaining 30% in 2019 pursuant to put and call option arrangements.

Related News


Playtech completes acquisition of 70% of CFH Group


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: