Playtech to buy games developer GTS
Playtech is to acquire gaming software company Gaming Technology Solutions (GTS) for an initial consideration of 10.8m, with a further consideration of up to 21.6m based on the futureperformance of the business.
PLAYTECH IS TO BUY gaming software company Gaming Technology Solutions (GTS) for an initial consideration of 10.8m, with a further consideration of up to 21.6m based on the future performance of the business.
GTS offers casino games, and Playtech will look to its new company to develop skill games that are allowed under regulated markets.
Playtech chief executive Mor Weizer said the acquisition would complement his company’s product portfolio and enable it to expand the Playtech product range in regulated and soon-to-be regulated markets such as Italy and France.
Weizer said: “Our agreement with GTS is a strategic move: it will enable us to work with a true open platform and integrate new games seamlessly. We have been looking to enhance our open content capabilities, and in effect become an aggregator of quality gaming content. Not many service providers can do that.”
GTS has licensing agreements with 15 European gaming companies and 30 separate internet gaming brands, including 10 operators which are not currently Playtech casino licensees, such as European sportsbooks Bwin, which won Operator of the Year 2009 at the EGR Awards last week, and Unibet, which won European Sports Betting Operator 2009.
Weizer added that the deal would enable Playtech to tap into one of the fastest growing egaming segment of many sportsbooks and add another gaming product to Playtech’s portfolio.
“The success of the games sections in sports betting operators sites is evident, and this deal will give Playtech greater exposure to what is one of the fastest growing industry segments. GTS has amongst its licensee base many of the most well established European sports betting operators and we look forward to developing closer ties with them,” Weizer said.
The acquisition of GTS brings Playtech nearer to having a full complement of egaming solutions, supplying the major gaming verticals, and lacking only a significant sportsbook offering. To fill the space, Playtech acquired sports technology business Player2Players in March this year, and will develop the platform before marketing the product to clients, Weizer said.