Playtech To Join Foreign Exchange Market For $499M

Law360, New York (April 2, 2015, 5:22 PM EDT) -- The online gambling software company Playtech Ltd. is set to snatch up a trading platform for what could amount to €458 million ($498.9 million), in a bid to penetrate the foreign exchange and contract for difference markets.

The purchase of a 91.1 percent stake in TradeFX, which operates sites including markets.com, would cost Playtech €208 million upfront with a second payment due at the end of 2017 based on the company’s performance. That payment could top out at €250 million.

The acquisition would give Playtech access...
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