Playtech finalizes deal with ACM

Maria Nikolova

As a result of the deal, a team from Alpha joined the TradeTech Group creating the brand TradeTech Alpha.

Prime of prime relationships and the future

A follow-up to FinanceFeeds’ report from August this year about Playtech PLC (LON:PTEC) acquiring certain assets of ACM Group Limited, also known as Alpha…

In a filing with the London Stock Exchange today, Playtech announced that it had completed the acquisition of technology, intellectual property and certain customer assets from ACM Group Limited, also known as ‘Alpha’ or ‘ACM’.

As a result of the acquisition of the assets a team from Alpha joined the TradeTech Group creating the brand TradeTech Alpha. TradeTech Alpha will deliver a bespoke risk management and trading solution to B2B customers.

ACM Group is a UK-based B2B market maker, dealer and broker focusing on delivering bespoke risk management and trading services to institutional and professional clients.

Back in August, Playtech said that the consideration for the acquisition comprises:

  • an initial up-front payment of $5 million;
  • two staged payments based on 1 x EBITDA of 2017 and 2018; and
  • contingent consideration based on 5.2 x the 2019 EBITDA, minus the initial payment and 2017 and 2018 payments, with the total consideration capped at $150 million.

The brand TradeTech Alpha is created to deliver a bespoke risk management and trading solution to B2B customers, as TradeTech Group aims to offer a turnkey B2B solution to brokers covering the entire lifecycle of a trade, from front end technology to CRM and platform management, to liquidity technology, and risk management and professional trading services.

Following the acquisition, TradeTech Group will include:

  • TradeTech Alpha, created to deliver a dedicated, industry leading, B2B solution delivering market made liquidity, professional bespoke trade execution, and risk services;
  • Markets.com, a brand operated by Safecap as a provider of CFD and FX trading platforms;
  • MarketsPro, a newly established dedicated B2C brand for high-net worth clients, following the acquisition of assets from Alpha Capital Markets;
  • CFH, which will continue to provide tier 1 FX liquidity services and multi-asset execution through its best of breed proprietary brokerage technology.

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