M&A News

Playtech has completed the acquisition of technology, intellectual property and certain customer assets from ACM Group (Alpha), strengthening its newly-rebranded TradeTech Group financial trading division.

The deal, first announced in August, could see Playtech pay up to USD$150m for the assets, having paid a $5m up-front consideration.

It sees the solutions giant bolster TradeTech with a portfolio of international B2B clients, proprietary trading technology and ACM's Alpha Pro trading platform.

Alpha's trading, risk, dealing and business development teams will also move to TradeTech, while a dedicated team will be tasked with developing a bespoke risk management and trading solution for B2B customers, TradeTech Alpha.

Shares in Playtech plc (Co.Data) (LSE:PTEC) closed in London Monday down 0.38 per cent at 915.00 pence per share.