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

Private Hire Taxi Company
North of England, UK Wide

Specialises in providing fast, reliable and trustworthy private hire transport services using a modern and maintained fleet for the public, commercial and corporate sectors. Service offering is enhanced through an industry-leading smartphone applicat...

Asking Price: Offers Invited
Turnover: £5,600,000

LEASEHOLD


Home Care Franchise
Mansfield, Nottinghamshire, East Midlands, UK

The franchisor offers a white-collar management franchise focusing in the dynamic multi billion pound care and support market. The role of a franchisee is one of working “on” the business, as opposed to working “in” the business – managing people, st...

Asking Price: £250,000
Turnover: £1,200,000

LEASEHOLD


Security Services Business
London, Buckinghamshire, South East, UK

Established business acquired as going concern in 2013 with excellent reputation for quality, service and reliability. An opportunity exists to purchase the business and assets of well-established security business. Long track record of profitability...

Asking Price: Offers Invited
Turnover: £1,900,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

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