Under
the terms of the deal, Playtech will take control over intellectual property,
technology, and customer assets from the purchased company. Team members from
ACM or Alpha, as the financial services company is often referred to in the
field, will also join its new owner’s Financials Division.
Based
in the UK, Alpha is known for the provision of B2B financial markets services,
including dealer, broker, risk management and trading ones. The company’s
clients include institutions and professionals.
As part of the acquisition deal, Playtech will assume ownership over a number of ACM’s clients, its proprietary trading technology, and its Alpha Pro trading platform, which is known to be mainly oriented towards institutional clients.
The deal is yet to receive the necessary approval from interested parties. It is believed that it will be completed by the end of September.
Playtech also used the opportunity to reveal planned rebrand of its Financials Division as TradeTech Group, a name it has chosen to reflect the focus of the operations within the division in the most adequate way.
The Alpha acquisition deal has been the second one of this kind for Playtech since the beginning of the year and the first one within its Financials Division. Early in 2017, the company purchased slot games developer Eyecon for the total amount of £50 million.
Playtech has previously announced a strategy to expand its operations and global presence across both the gambling and financial services industries through key acquisition deals.
