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Playtech to acquire specific assets from ACM

23 August 2017 07:52

Playtech agreed to acquire technology, intellectual property and certain customer assets from ACM (Alpha or ACM) as it continues to enhance its financials division's B2B offering.

As a result of the acquisition of the assets a team from Alpha will join the TradeTech Group and the brand TradeTech Alpha will be created to deliver a bespoke risk management and trading solution to B2B customers.

The company also announced that its financials division will now be known as TradeTech to better reflect the full capabilities of the businesses within the division and align its brand recognition throughout the industry.

Alpha is a UK based B2B market maker, dealer and broker focusing on delivering bespoke risk management and trading services to institutional and professional clients.

In line with Playtech's strategy to acquire bolt-on technology and additional services, TradeTech agreed to acquire various assets from Alpha including a portfolio of international B2B clients, its proprietary trading technology, and the institutional focused Alpha Pro trading platform.

In addition, the trading, risk, dealing and business development teams of Alpha will join TradeTech Group, including approximately 20 staff based in the UK.

Furthering the breadth of TradeTech Group's financial risk management, trading, and market making services is a central part of the strategy to grow its B2B financial offering.

The acquisition of these key assets brings with it proprietary technology enabling TradeTech Group to offer an enhanced suite of products and services, which will now include market leading B2B risk management and bespoke trading solutions to the industry.

Management believes that success for brokers in the financial trading industry is driven by the ability to acquire customers directly, monitor their performance and monetise their order flows through enhanced risk management.

Following the completion of the acquisition, TradeTech will be positioned to offer a turnkey B2B solution to brokers covering the entire lifecycle of a trade, from front end technology to CRM and platform management, to liquidity technology, and risk management and professional trading services.

In addition to intellectual property and sophisticated proprietary technology, the Alpha dealing, risk and business development teams have a significant track record and reputation in the financial trading industry that brings a wealth of trading experience to TradeTech.

As well as their institutional relationships, the Alpha teams will deepen TradeTech's offering to professional and high net worth traders allowing it to launch a dedicated high-net worth professional brand called MarketsPro.

Consideration for the acquisition comprises:

- An initial up-front payment of $5m

- Two staged payments based on 1 x EBITDA of 2017 and 2018

- Contingent consideration based on 5.2 x the 2019 EBITDA, minus the initial payment and 2017 and 2018 payments, with the total consideration capped at $150m

Completion of the acquisition, which is subject to the satisfaction of certain conditions, is expected to take place by 30 September 2017.

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Related Company: PTEC

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