Playtech Completes Acquisition of CFH Group
- Following an earlier announcement this month, Playtech has completed its acquisition of CFH, securing a 70% stake.
Playtech (LSE: PTEC), a gaming and retail broking giant, has completed its acquisition of Consolidated Financial Holdings A/S (CFH Group), securing 70% of the technology company in its latest deal, according to a regulatory filing on the London Stock Exchange (LSE).
Earlier this month, Playtech announced that it would be purchasing CFH Group for $120 million – the move represents an about-face for the company, which up until now had been focused primarily on the retail financial trading space. Such a purchase could see Playtech move in an entirely new direction.
CFH Group provides a range of products that includes a Straight Through Processing (STP) brokerage servicing the retail brokering industry with multi-asset execution, prime brokerage services, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, and complementary Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools. Presently, Playtech has only acquired 70% of the group, with the remaining 30% of the company pending put and call option arrangements.
Looking at CFH’s financials, the group’s revenue and adjusted EBITDA for the year ending 31 December 2015 was $18.6 million (€17.6 million) and $5.5 million (€5.2 million) respectively. The company’s annual revenue run rate was also reported at $28.2 million (€26.6 million), owed in large part to an increase in trading volumes from continuing organic growth of client acquisition and the business as a whole.
Playtech (LSE: PTEC), a gaming and retail broking giant, has completed its acquisition of Consolidated Financial Holdings A/S (CFH Group), securing 70% of the technology company in its latest deal, according to a regulatory filing on the London Stock Exchange (LSE).
Earlier this month, Playtech announced that it would be purchasing CFH Group for $120 million – the move represents an about-face for the company, which up until now had been focused primarily on the retail financial trading space. Such a purchase could see Playtech move in an entirely new direction.
CFH Group provides a range of products that includes a Straight Through Processing (STP) brokerage servicing the retail brokering industry with multi-asset execution, prime brokerage services, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, and complementary Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools. Presently, Playtech has only acquired 70% of the group, with the remaining 30% of the company pending put and call option arrangements.
Looking at CFH’s financials, the group’s revenue and adjusted EBITDA for the year ending 31 December 2015 was $18.6 million (€17.6 million) and $5.5 million (€5.2 million) respectively. The company’s annual revenue run rate was also reported at $28.2 million (€26.6 million), owed in large part to an increase in trading volumes from continuing organic growth of client acquisition and the business as a whole.