€230m Committed by Playtech for Sagi's Marketing Firm

Playtech founder Teddy Sagi, who is still the major shareholder in the company, has sold his PT Turnkey Services (PTTS) to Playtech for €140m with an option of having the total sale price double itself and rise to €280 by 2014, depending on the company's performance in the next couple of years.

The news came as part of Playtech's annual results announcement to the London Stock Exchange where it has been traded since 2006.

PTTS assets include Europartners, a leading online gambling affiliation business with over 50,000 registered users and revenues in 2010 of €90m. PTTS 850 employees in the Philippines and Bulgaria will join the 1000 employees that Playtech has in its three main locations of Estonia, Australia and Israel.

PTTS four divisions including marketing, operations, payment advisory and network management; all operating as Playtech licensees, will allow Playtech to have a more direct relationship with its major operators, players and facilitate better contact between its operators and players.

Europartners being one of the industry's leaders in player acquisition and player retention will strengthen Playtech's ability to be viewed as a supplier of online gaming solutions and operations and not just as a software development company that provides licenses to use its software.