Playtech has agreed to acquire a majority stake in online CFDs and binary options broker and provider TradeFX Limited, operator of the website, for a maximum purchase price of €458m.

TradeFX is currently owned 86.45 per cent by Telesphere, a subsidiary of a trust for the benefit of Playtech founder Teddy Sagi, with the remaining equity owned principally by the company’s management.

Established in Cyprus in 2009, TradeFX is a profitable and growing online CFDs and binary options broker and trading platform provider, offering services in more than 100 countries and in over 25 languages through three principal business segments.

It operates two B2C businesses, the first providing customers with a trading platform for CFDs trading via its principal brand and the second offering a proprietary trading platform for the trading of binary options, both across multiple channels.

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