The acquisition of Gaming Technology Solutions Limited or simply GTS by Playtech was confirmed by the Isle of Man based leading online gaming software provider itself. It was done through purchase of GTS’ entire issued share capital. The initial payment for the said share capital amounted to more or less €10.8 million. Additional payments will be given by Playtech however will already be based on GTS’ profitability over the next two years. The maximum amount the said provider will have to pay plays around €21.6 million.
The acquisition will really help Playtech when it comes to the implementation of some strategies. In the gaming software industry, GTS is one of the fastest growing names and one of the primary reasons behind this is its proprietary Enhanced Gaming Engine (EdGE) open gaming platform that provides the licensees access to products from various online gaming software developers.
GTS platform and even range of games will surely fit Playtech’s goal, short-term and even long-term. Mor Weizer, CEO of Playtech actually believe that by merging with GTS, they will have greater exposure to sports books, which is indeed one of their objectives.
Weizer said, being one with GTS will improve their competitive advantage as “an independent software provider of choice with market leading integrated technology and a complete portfolio of best of breed gaming products”.
GTS also seemed happy to finally be able to do business with Playtech. Steven Matsell, GTS’s Business Development Director, said in behalf of everyone in GTS that, “GTS’s strategy is very much in line with Playtech’s – to be the recognized market leader as a dedicated B2B software provider. This deal will underpin the growth of the platform and we very much look forward to the future as part of the Playtech team.” Acquisition of GTS by Playtech is a good thing.
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