Tech firm Playtech snaps up software business for £15m

Fri, 21 Oct 2016 | BUSINESS SALE

Online gaming firm Playtech has acquired ECM Systems, a provider of software to the UK retail bingo market, in a deal worth around £15 million.

ECM, which is based in Hull, works with well-known bingo clients including Gala Leisure and Mecca Bingo. The firm posted £9.1 million in revenues for the fiscal year 2016.

FTSE 250-listed Playtech, headquartered on the Isle of Man, provides software for a range of online gambling platforms, including casinos, poker rooms, sports betting and scratch games.

Playtech will pay about £14.9 million for a 90 per cent stake in ECM, with the remaining ten per cent staying with Allen Richardson, who will remain as ECM’s chief executive officer for the next three years.

The acquisition is part of Playtech’s strategy to move further into the bingo sector. The company’s board said ECM was “highly regarded” within the bingo industry, praising its range of products as being “instrumental” to the daily running of retail bingo in the UK and the Republic of Ireland.

Mor Weizer, chief executive of Playtech, said: "ECM has a leading position within the bingo hall sector, including its extensive range of handheld devices that enable players to enjoy a digital experience within a familiar retail environment.

"This is a significant step in strengthening and expanding our Playtech ONE offering within the bingo sector and we look forward to working with Allen and the whole ECM team."

Earlier this year Playtech paid €138 million (£122 million) for Vienna-based Best Gaming Technology, which provides sports betting software for a range of firms including Betfred, Coral, Paddy Power and William Hill.

Find a technology business for sale.


Share this article



Latest Businesses for Sale

Childrens Day Nursery
Leicestershire, UK Wide

Nursery and out of school club. Ran under management. Registered for 175 places. Established in 1993. This is a retirement sale. Offers invited.

Asking Price: £325,000
Turnover: £766,934

Industrial Parts Distribution
UK Wide

This business has established a strong brand within its market place in over 20 years of trading. The owners have built a strong team to operate the business on a day to day basis. Offers invited.

Asking Price: Offers Invited
Turnover: £5,000,000

LEASEHOLD


Tagging Services to Library Sector
UK Wide

If you are looking for an uncomplicated yet profitable business, this is it. Using RFID and BLE technology our client works across a number of sectors to electronically tag assets for ease of monitoring. Put simply, the business is one link in a chai...

Asking Price: £395,000
Turnover: £450,000

WORK FROM HOME



View more businesses for sale

News Search

Latest News

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

 
12
 
Nov
 

MBO at Gloucestershire bricklayers | MBO/MBI

Gloucestershire building services firm Cavendish Park Brickl...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources