Playtech has moved to further strengthen its financial trading business with the proposed US$105m acquisition of Ava Trade, the customer-facing contract for difference (CFD) broker over which TradeFX had secured an option to purchase prior to its own acquisition by Playtech in April.
Through its subsidiary TradeFX, Playtech has entered into a share acquisition agreement to acquire the entire issued share capital of Dublin-based Ava Trade.
“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,” Playtech chief executive Mor Weizer said. “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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