8 December (BNS) - The international developer of online games and gaming environments Playtech, which does a large portion of its development work in Estonia, is to buy the gaming software company Gaming Technology Solutions (GTS).
The acquisition will take place for an initial consideration of 10.8 million euros, with a further consideration capped at 21.6 million euros over the next two years based on the future performance of the business.
GTS offers skill games, including those allowed under regulated markets, Playtech said. It said GTS has amongst its licensees some of the most well established European sports betting operators.
For the 12-month period ended June 2009, GTS recorded revenues of 2.6 million pounds sterling.
Playtech is listed on the Alternative Investments Market (AIM) of the London Stock Exchange.