Playtech plc's chief finance officer Shuki Barak has revealed that the software developer has some ambitious spending plans in its acquisition strategies, with a number of targets in mind that include an as yet unidentified marketing business which could be the subject of a $750 million takeover deal

In an interview with the publication Mergermarket, Barak said that Playtech has a call option on the undisclosed target, based on a 5.5x multiple over annual profits of $500 million. The company holds the option until March 2011.

Commenting that the deal will dwarf Playtech's $250 million involvement in William Hill Online (see previous InfoPowa reports), Barak said that the company is additionally considering four smaller targets including a hosting provider, a customer services specialist and a payment advisory firm, and is set to seal between 10 and 15 licensing agreements before the end of 2009.

Barak confirmed that Playtech was not interested in troubled operations such as Codere in Spain, preferring to remain as far as possible focused on software development rather than direct operational matters.

"As a pure software supplier we have no intention of going into operations as it would create a conflict of interest," Barak said. "We could only consider a minority stake investment in a gaming operator, but this is unlikely to happen in the short term.”

Live activity feed

Swipe left or right to see more

lcb activities in the last 24 hours

  • 38
    new members
  • 641
    members online
  • 9963
    guests online
  • 150
    new posts
  • 5321
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results