Playtech PLC acquired a 70.6% stake in Snaitech for a consideration of €291m

Goodbody acted as Joint Broker for Playtech on the acquisition

Playtech Plc engages in the development of software platforms and content for the online, mobile, and land-based gaming industry. Snaitech is a listed Italy based company engaged in the design, construction, and provision of technology and services for accepting bets and gambling.

The acquisition is in line with Playtech’s strategy of expanding its geographical revenue with continued improvement in quality of earnings. It will enable Playtech’s presence in the Italian B2B market, resulting in an increase in its market share. The deal will allow Playtech to distribute its products through Snaitech's network, thereby optimising the online offering, operational and marketing expertise. It will generate run-rate cost synergies of approximately EUR 10m per year. The transaction is expected to accretive to EBITDA and EPS in the first full year.

 

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