Playtech acquires Limited

By IVCPOST Staff Reporter

Jul 11, 2013 08:23 AM EDT

Playtech announced today its acquisition of Limited along with its fellow subsidiaries. Limited was previously owned by etruvian Holdings Limited.

The acquisition will be funded by existing cash resources. Theses cash resources amounted to Eur38.3 million. etruvian Holdings also provided customary warranties and indemnities as well as non-complete and non-solicitation warranties.

Two founders of the firm, Dominik Kofert and Enrique Guzmán, were guarantors of etruvian Holdings. In addition, they will be staying on with the acquired firm as consultants.

The acquisition of and fellow subsidiaries was believed to be complementary to Playtech's PTTS marketing division. In addition, it would strengthen the company's position in poker and would allow Playtech to diversify its business. This diversification would be through provision of licenses to the more than six million members of the largest independent poker community in the world. As a result, this would bolster existing relationships and create more opportunities for software and PTTS marketing.

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