Hong Kong-based Gopher Investments today revealed it has completed the acquisition of Playtech’s financial unit, Finalto for $250 million in an all-cash transaction.
Finalto is a provider of B2C and B2B multi-channel trading software and services. The firm’s B2C offering is CFD broker which allows its customers to trade shares, indices, currency and commodity CFDs on its trading platforms. Its B2B offering offers clearing and execution services as well as technology and risk management services.
Gopher is a 4.97% shareholder in Playtech. The investment company, backed by investors with experience in gaming and financials, highlighted that it aims to explore Finalto’s future growth potential.
Teresa Teague, Director at Gopher, commented:
Gopher is delighted to have completed the acquisition of Finalto. We have been impressed by the strength of Finalto’s business and management team and look forward to working closely with the team to accelerate Finalto’s ambition to become the global partner of choice in the financial trading sector.
Meanwhile, Gopher’s parent company TT Bond Partners is currently in talks with Playtech over a possible acquisition. Following months of negotiations, the two companies have not yet reached an agreement and deadline is set as 15 July.