Playtech Completes its 4th Acquisition of the Year

Gaming software giant Playtech has announced that it has completed the its acquisition of Ash Gaming for a total sum of 23 million GBP. Playtech will pay 15.5 million GBP right away and the remaining 7.5 million GBP to be paid in a deferred payment scheme over the course of the next three years.

The acquisition of Ash Gaming is the tenth major acquisition that Playtech carried out since it went public in the London Stock Exchange back in 2006. Out of the ten acquisitions they carried out, four were done this year.

Although the value of Playtech shares declined in 2011, the varied acquisitions signal to shareholders that the company is strong and has a clear strategy for the future. This should also ease some of the concerns that surfaced due to problems Playtech had with William Hill.

Playtech and William Hill are partners in a joint venture called William Hill Online with William Hill holding 71% share in the company and Playtech holds the remaining 29% share. In October the entire staff at William Hill Online Tel Aviv offices staged a walkout amid fears that William Hill is planning on shutting the Tel Aviv office.

The problems at William Hill Online were resolved within a couple of weeks and required the firing of seven top managers, most of which founded the company years before it was taken over by William Hill Online.

Now it seems that Playtech has put recent events behind it and it is in full swing to continue its quest for dominating the online gaming industry.