Gaming technology and services supplier Playtech has significantly strengthened its games development capabilities with the acquisition of Swedish slots studio Quickspin in a deal worth up to €50m.

Quickspin is a rapidly growing and highly respected studio that supplies a range of major operators with real-money slots, as well as free-to-play variants of its games through Plumbee’s Mirrorball Slots app.

In 2015 the company generated revenue of €6.0m and adjusted earnings before interest, tax, depreciation and amortisation of €2.1m, and is forecast to grow significantly, supported by new customer deals and new content launches.

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