13 July, AtoZForex – this Wednesday morning €138 million Best Gaming Technology acquisition by Playtech was announced. Previously the Playtech company has raised the cash resources for its acquisition deals in the financial trading sector with AvaTrade and Plus500. However, the deals failed and the company decided to concentrate on its main business – online gaming industry.
Details of Best Gaming Technology acquisition by Playtech
Before diving into the story, let’s get to know the players. Playtech was established in 1999 and currently it is the largest online gaming software supplier in the world. Best Gaming Technology provides software solutions internationally for sports betting. The company is headquartered in Vienna, Austria. During 2015, the companies total revenue was equal to €46 million.
Best Gaming Technology aims in perspective to improve Playtech’s drive digitalization process of the retail clients as well as its omnichannel offering services. As mentioned above the deal is totally worth €138 million.
Playtech has acquired 90% of the BGT’s issued share capital. The company has a call option to buy the remaining 10%. The founder and CEO of BGT, Dr. Armin Sageder will remain in the company for at least 3 more years after the deal is completed. He commented on the deal as following:
“BGT is at an inflection point in its development as we penetrate into new markets whilst upgrading our products at a phenomenal speed. I believe that becoming part of the Playtech family will allow Playtech and BGT to take omni-channel to the next level.”
New heights for Playtech
The portfolio the Playtech is acquiring is expected to enhance its solutions for the gaming sector. The type of product the BGT is offering called a self-service betting terminal boasts double the volume of other providers.
When commenting on the Best Gaming Technology acquisition by Playtech, the CEO of Playtech, Mor Weizer stated:
“…BGT offers the market’s most sophisticated retail sports solution which is also both modularized and flexible, allowing Playtech to quickly integrate with its own platform. <…>
As the only company that will offer FOBTs and SSBTs, all integrated with the world’s leading online platform and products, Playtech will realize the potential of a true omni-channel offering for the benefit of both consumers and operators,” he elaborated.”
The AtoZForex team has reached out to Playtech for further comments on the case. However, the request is still pending.
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