Billionaire businessman Teddy Sagi’s Playtech is considering acquiring the business of AvaTrade, a global forex broker. According to a source close to the matter, negotiations have started and are currently at a preliminary stage.
AVA Trade is a veteran and established player in the trading industry. Incepted in 2006, it boasts over twenty thousand registered customers, who are said to execute more than two million trades a month. According to AvaTrade, the company’s monthly trading volume exceeds $60 billion.
In such a deal, AVA is expected to be merged into the high-profile brand holding an attractive domain and a Premier League partnership deal.
TrustedBrokerz: The Source More Traders Are TrustingGo to article >>
This profile, with offices and licenses in key jurisdictions like Japan and Australia, could be a perfect fit for Teddy Sagi’s portfolio. Last month, Sagi officially entered the B2C forex market by absorbing TradeFX into his LSE-listed Playtech for €458 (for a controlling 91.1% stake).
Since launching as a forex and CFD broker in 2009, TradeFX has grown into a group of various trading brands headed by Markets.com and TopOption, as well as operating forex and binary trading technology and a proprietary CRM system. After launching binary options platform in 2013, their most recent release was of a proprietary webtrader at the end of 2014.
Markets.com is understood to be looking into several M&A opportunities in the retail forex space. As part of such a deal, AVA is expected to be merged into the high-profile brand which possesses both a catchy and costly domain and a shiny Premier League sponsorship deal with’s Arsenal F.C. Markets.com describes itself as “one of the world’s fastest growing Forex & CFD providers”, an ambitious and not inaccurate rendering that the strong client base and wide global spread of Dublin headquartered AvaTrade will substantially help living up to.