The gaming company would set a deal with the Consolidated Financial Holdings group.
Isle of Man.- The leading international iGaming software supplier Playtech will acquire the Consolidated Financial Holdings group (CFH) to boost its position in the financial market. Playtech is already part of the London Stock Exchange and is a constituent of the FTSE 250 Index. However, the company wants to expand its offerings.
The iGaming provider will acquire the financial group for a US$120 million deal. Under the agreement, Playtech will no longer stay only focused on retail financial trading. CFH Group will jointly work with Playtech on multi-asset execution, prime brokerage services, liquidity and risk management tools.
The UK Financial Conduct Authority (FCA) issued its approval for the major joint venture between the two giants. According to Playtech’s deport, the company will pay US$43 million for 70 percent of CFH during the following weeks. The complete acquisition would be closed after 2018.