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Bids, Mergers and Takeovers

Playtech acquires Consolidated Financial Holdings

14 November 2016 07:17

Playtech has agreed to acquire Consolidated Financial Holdings A/S (CFH), a technology company with products including a leading Straight Through Processing (STP) brokerage.

The STP brokerage provides retail brokers with multi-asset execution, prime brokerage services, liquidity and complementary risk management tools.

The acquisition will enhance Playtech's position as it continues to build a B2B offering within its Financials division.

CFH's wholly owned subsidiary, CFH Clearing Limited ("CFH Clearing") is regulated by the Financial Conduct Authority (the "FCA") and Playtech confirms that regulatory approval has been received.

Playtech will acquire 70% of CFH upon completion of the acquisition, which is due to take place on 30 November 2016.

The remaining 30% will be subject to put and call options between Playtech and CFH's management team, who are remaining with the business, and which can be exercised in 2019.

Story provided by StockMarketWire.com

Related Company: PTEC

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