Playtech acquires

2 April,, Lagos — Playtech acquires, for a price of about €458 million, gaining a 91.1% stake into the firm. Playtech's remarkable business diversification strategy, marks a launch of the gaming giant directly into into the FX trading sphere. On a different note, the website is owned by TradeFX Ltd (TradeFX), even the firm's underlying technology is in hands of TradeFX.

Tedi Sagi, who happens to be man behind Playtech, plans to officially enter into the world of FX market. Especially now, Playtech acquires The gaming giant firm has acquired a vast majority of controlling stake of 91.1% in the firm, meaning that nothing will stand in the way anymore for Playtech to diversify it's core business.

TradeFX earlier acquisition of Finexo

The deal occurs as TradeFX reported $27.6 million in Q1 revenues, which marks 87% year-over-year growth, with $12.3 million in EBITDA. Additionally, during the quarter 23,900 customer who were active and 10,800 in first time deposits. Ever since the forex technology company launched a strategic alliance with the forex broker SafeCap Investments Ltd (SafeCap) back in 2009, there is no doubt that TradeFX has grown rapidly. The firm has included various trading brands which were headed by and Topoption. They launched their latest release named proprietary webtrader, just over last year.

Aside, the strategic alliance with CySEC license Safecap, TradeFX has been involved in the renowned merger of the leading forex and CFDs broker Finexo, back in 2010. This prestigious acquisition provided TradeFX direct access to the global marketing know how and activities of the in 2003 started broker Finexo.

Terms of the acquisition

As Playtech acquires, recent reports show that the terms of the remarkable deal involves an initial cash payment of €208mln. Whereas, an additional payment of €250 million by Playtech, will be paid in December 2017 based on the future EBITDA considerations.

The gaming giant strongly believes that the deal will become immediately accretive to their earnings. The shareholder voting to approve the acquisition will take place later this month, with a potential date of May 31st to complete the acquisition.

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