With the acquisition of ECM Systems, a provider of bingo software in the UK retail bingo market, Playtech has strengthened its solutions offering.
The company paid £14.9m for a 90 per cent stake in ECM with the remaining 10 per cent, which is subject to put and call options capped at £1.1m, held by ECM chief executive Allen Richardson.
ECM systems provide facilities for cash bingo and front-of-house reporting to UK-based bingo operators including Gala Bingo and Mecca Bingo.
The company is also a provider and licensor of digital bingo software for a wide range of electronic bingo terminals and generates a significant proportion of its revenue from this activity.
Playtech expressed hope that the move will strengthen its omni-channel solutions for bingo operators by connecting their retail and online operations and providing a platform to supply its content.
Playtech chief executive Mor Weizer said: "ECM has a leading position within the bingo hall sector, including its extensive range of handheld devices that enable players to enjoy a digital experience within a familiar retail environment.
"This is a significant step in strengthening and expanding our Playtech ONE offering within the bingo sector and we look forward to working with Allen and the whole ECM team," he added.
