PlayTech Spends £11 Million on Acquisition Deal

Playtech has been very busy making business deals lately. Its most recent arrangement has been made with Geneity, acquiring the company for a whopping £11 million.

Established in 2006, Geneity is one of the top software providers in the United Kingdom. Over the course of the past 5 years, the company has acquired some impressive clients. Gala Coral and The Health Lottery are just two of the UK-based companies that use software provided by Geneity. Over the course of the past year, the company saw a profit of £2.3 million.

PlayTech has also made some interesting international deals lately, including a joint venture with Peermont Group in South Africa. Once online gambling is legalized, PlayTech and Peermont will work together to provide sportsbetting and e-gaming solutions to South Africans.

Germany will also see a new PlayTech deal, as the company has joined venture with Gauselmann Group. Obtaining 49.99% of the German company, Playtech will help to provide software to Germany gamblers.

These business deals will pay off handsomely for PlayTech. The company’s profits have been on the incline since 2009 and show no signs of slowing down. These new partnerships will see PlayTech expand into newly regulated markets, offering up lucrative business opportunities.