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Bids, Mergers and Takeovers

Playtech acquires bingo solutions provider ECM Systems

21 October 2016 07:18

Playtech has acquired bingo software and hardware solutions provider ECM Systems for a total of £16m.

Playtech has paid about £14.9 million for 90% of the issued share capital of ECM.

The remaining 10%, which is subject to put and call options capped at £1.1 million, is held by Allen Richardson who will remain as CEO of the business for the next three years.

ECM supplies software and support services to the UK retail bingo market, including major operators Gala Leisure, Mecca Bingo and the leading independent bingo operators.

The deal positioned Playtech at the forefront of the retail bingo market in the UK.

"It also empowers Playtech to provide omni-channel solutions to the bingo operators by connecting their retail and online operations as well as providing a platform to supply Playtech content," the company said.

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Related Company: PTEC

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