It may be just a matter of weeks since we heard of Playtech’s acquisition of binary options brand TradeFX, but it already seems that the developer has moved on to its next conquest. Today it was announced that Playtech had forked out another few hundred million pounds for yet another binary options (also known as binary trading) company. This time round, it’s the relative newcomer Plus500 which has attracted Playtech’s attention.
Plus500 Ltd is a pretty average trading platform company based in Israel, but operating throughout the world and available to traders/players in the UK. Despite having proved a successful player in its own right over the last few years since the brand launched, Plus500 recognises the financial security which can be offered by teaming up with Playtech, and the additional benefits which come from a more experienced management team.
The acquisition values Plus500 at a cool £459.6 million (€641.5 million/$702 million). This may sound like an awful lot of money to the average person, but surprisingly, it’s actually a bit of a steal for Playtech. They’re getting Plus500 cheap thanks to the financial mess it’s in after questions were raised during a money laundering investigation. It’s hoped that the deal – which is set to be completed by September 2015 – will repair the image of the company. It’s certainly good news for shareholders, who will be entitled to 400p per share.
Playtech and Binary Options
With this being Playtech’s second binary options acquisition in as many months, it seems clear that the software developer-cum-betting operator has got its sights set firmly on carving out a space at the centre of the booming binary options market. Up until now, the majority of binary options sites have operated independently – reflecting the niche market they catered for – so we can definitely see the ramping up of interest by Playtech and similar companies as a change in the way binary options are viewed. It won’t be surprising to see more acquisitions like this go hand in hand with an increase in player numbers in the near future.
For more information on binary options, why not have a read through our exclusive Guide to Binary Options?