ONLINE WORLD NEWS Playtech confirms Finalto takeover approach 2 years ago Iwo Bulski Post Views: 409 Playtech Plc has entered discussions with an ‘Israel based consortium’ with regards to the sale of its Finalto financial trading unit. The FTSE250 technology group issued a short statement confirming media speculation that it had entered talks to offload Finalto to a consortium formed by Barinboim Group, Leumi Partners Limited, The Phoenix Insurance Company Limited and Menora Mivtachim Insurance. Playtech said it was reviewing a cash offer from the Consortium of up to $200 million, of which $170 million will be payable on completion of the deal. It added that approximately US$110 million of capital required to run the business will be transferred with the business upon any sale. “Whilst discussions are progressing, there can be no certainty that any transaction will be forthcoming nor on what terms it would occur,”- the statement read. Undertaking a group-wide review in 2019, Playtech governance placed all ‘non-core assets’ under sale in pledging to its investors that the company would return its focus towards gambling having seen its share price tumble from its 2017 highs. Finalto is the latest asset of Playtech’s 2017 multi-million M&A expansion into financial trading and FX, in which the company acquired TradeTech, Markets.com, MarketsPro and CFH Trading. Further disposal of non-core assets saw the company divest its casual games studio YoYo Games to Norwegian games publisher Opera for $10 million. Source: sbcnews.co.uk About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Playtech Continue Reading Previous Online gambling in Africa-are Bitcoin casino a solution?Next Set sail for reel winnings in Captain Venture™: Treasures of the Sea More Stories ONLINE WORLD NEWS Meet Slotegrator at SiGMA Americas 2023 in Brazil 4 days ago Iwo Bulski ONLINE Discover the World of Exceptional Gaming at BC.GAME Casino 4 days ago Iwo Bulski GAMES ONLINE Gods of War from PragmaticPlay 6 days ago Iwo Bulski ONLINE Jackpot Strategies: How to Win Big in Online Casinos 6 days ago Samuel ONLINE What are the Features of Live Casino Games? 6 days ago Samuel EXPERTS WORLD NEWS SPiCE Series – Bridging iGaming Across Asia 7 days ago Iwo Bulski ONLINE WORLD NEWS ESG: what is it for the gambling industry? 1 week ago Iwo Bulski EXPERTS WORLD NEWS The Transformative Role of CRM: Why Sales and Marketing Professionals Should Embrace Customer Relationship Management Tools 2 weeks ago Tools ONLINE SOUTH AFRICA Are Crypto Casinos a thing in South Africa? 2 weeks ago Szarlot BETTING WORLD NEWS Slotegrator expands footprint in Europe and LatAm with Barbara Bang 2 weeks ago Iwo Bulski EXPERTS WORLD NEWS The Globalization of Online Casinos and Gambling 2 weeks ago Szarlot HOT NEWS ONLINE Cryptocasinos are evolving worryingly fast 2 weeks ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.