Playtech PLC (PTEC.L)
** Gambling technology company Playtech rises after Goodbody Securities upgrade stock, citing the proposed acquisition of TradeFX as a positive
- Gambling technology company Playtech is set to enter the forex trading market after agreeing a deal to buy a majority stake in TradeFX for 208 million euros ($224 million).
* Playtech shares rise 3 pct (Adds CEO, analyst comments, details; updates share movement)
April 2 - Gambling technology company Playtech Plc said it would buy a majority stake in TradeFX Ltd for 208 million euros ($224.4 million) in cash to enter the trading platform and payment services market.
* Playtech shares open up 3.1 percent after co says to buy 91 percent in trading platform TradeFX Further company coverage: (Bengaluru Newsroom; +44 207 542 1810)
April 2 - Playtech Plc, an online gaming technology company, said it would buy a majority stake in TradeFX Ltd, a provider of trading platform and payment services, for an initial cash payment of 208 million euros ($224.4 million).
* Agreed to acquire a 91.1 per cent fully-diluted stake in TradeFX limited ("TradeFX"), an online CFDS and binary options broker and trading platform provider
* Made two smaller acquisitions in December in Israel, Ireland
* Consideration for acquisition, which will be funded from playtech's existing cash balances, is us$16.4 million Further company coverage:
** Gambling technology co Playtech jumps after company says FY revenue & adjusted EBITDA expected to be comfortably in line with market consensus