Playtech Lands Another Acquisition
August 14, 2008 (InfoPowa News) — London-listed online gambling software and games developer Playtech plc has made another acquisition, clinching a $1.75 million deal with Win Gaming Media Inc., to buy subsidiary MIXTV Limited, a provider of mass multiplayer (MMP) live gaming technology for use in interactive television and Internet applications.
In addition to acquiring MIXTV, Playtech has signed a license and service agreement with parent Win Gaming Media, a service provider for key players in the gaming arena, such as Virgin Media Television (part of Virgin Media, the UK's leading entertainment and communications company) and Teletext.
By bringing advanced MMP functionality into its capabilities, Playtech will enhance an already strong position in live gaming. MIXTV's patented technology delivers advanced user experience and quality live streaming products accessible via a unique combination of TV and Internet media by bringing interactive gaming content to the mass market.
The company anticipates that the asset acquisition is a further opportunity to expand the range of platforms it offers to its current licensees and for attracting new operators.
A Playtech statement notes that the purchase of MIXTV underlines Playtech's strategy of acquisitive and organic growth. The company continues to seek further acquisitions and promises to be opportunistic in this regard, bearing in mind the need for due diligence. The statement also hints that another acquisition affiliated with the current deal is in prospect, with progress in vetting and negotiations continuing.
Playtech CEO Mor Weizer, commented on the company's latest deal, saying: "As the leading software provider to the online gaming industry, the acquisition of MIXTV mass-multiplayer live gaming solutions enables us to further extend our products portfolio, making our products available on all forms of interactive media. We are excited about the potential this presents for further enriching our range of platforms and the new cross-selling opportunities the live gaming products create for our existing and potential new licensees. We are looking to continue realising our vision of enriching our products offering through new best in class innovative products."