Playtech to Acquire Ava Trade

Playtech subsidiary TradeFX Limited has made a share acquisition deal with B2C CFD broker, Ava Trade, for a $105 million consideration.

Playtech's shareholders and relevant financial services regulators must approve the acquisition before it’s finalized.

"The acquisition of the Ava Group is another important milestone in Playtech's strategy to expand and enhance its overall technology offering through multiple vertical markets,” said Mor Weizer, chief executive officer of Playtech.

“Since the recent earnings-enhancing acquisition of TradeFX and the creation of our financials division we have sought further opportunities to broaden our reach into this vertical.”

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