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Published on September 2nd, 2017 | by admin

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Online Gambling Giant Playtech’s $150 Million Acquisition:

In the most recent turnaround of events, one of the biggest online gambling giants Playtech has acquired Alpha Capital Markets (commonly known as ACM Group),a firm that holds expertise in providing tools for the currency trading market.

A UK-based financial dealer and broker for professional clients, ACM has been a pioneer in its services and was previously helmed by Grand Rapids management team will be under the leadership of CEO Muhammad Al-Amin Rasoula.

Playtech, a firm listed on the London stock exchange, is known for selling software for online casino and gambling platforms. The 18 year young firm is a strong family of 5,000 employees operating in 17 countries across the globe. They have decided to rebrand their new acquisition as TradeTech Group. The deal of acquiring ACM’s tech comes with a package of intellectual property, portfolio of international clients and 20 UK-based employees of the firm.

ACM has been listed as one of the fastest growing companies in the forex trading industry since the joining of Rasoula in the year 2016 and the company hasn’t looked back after that.

In the financial year of 2016, the companies revenue were hurting at $11.4 million, at a loss of about $2.6 million, as calculated and confirmed by Leaprate.com and the primary reason that they cited was regulatory filings. And in the recent deal, Playtech just spared a hefty amount of $150 millions for acquiring ACM. The deal will prove to be a beneficial one or not, that still remains to be seen.

The acquisition is expected to be completed within a month’s time involves an upfront payment of $5 million initially. The remainder will be paid in two instalments based on the company’s EBITDA earnings from the year 2017 to 2019.

For those who are unaware of the term, EBITDA stands for earnings before interest, tax, depreciation and amortization, which is a methodology used for measuring a company’s profitability and credibility. The present deal could potentially be Playtech’s costliest acquisition to date.

Last year, Playtech agreed to pay a god amount of up to $120 million for CFH, a tech magnate that holds expertise in processing trades.

With the present deal, CCP (Charter Capital Partners) l, an investment banking firm was serving as the financial advisor to ACM.

Dale Grogan, the managing director of CCP issued a statement saying that the entire ACM team at its very best represents the business diversity led by Grand Rapid’s dynamic leadership.

The outcomes of this deal are yet to be known and what fate has in store for both the acquirer and the acquired is something that only time will tell. But id we take the advice of experts in consideration, this deal is sure to bring laurels to both of the companies and give a phenomenal boost to the online gambling industry. The need of the moment for the online gambling industry is some good firms to take control of the situation and working to the benefit of the customers and casinos alike.

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