Business
Acquisition of ACM Group Limited
Acquisition of ACM Group Limited.
About this update from Playtech Plc
[{"type":"text","content":"\n \nRNS Number : 7462O Playtech PLC 23 August 2017 \n\nPlaytech plc\n \n('Playtech' or 'the Company')\n \nAcquisition of ACM Group Limited assets to enhance Financials B2B offering\n \nFinancials Division to be named TradeTech Group\n \nPlaytech (LSE: PTEC) today announces it has agreed to acquire technology, intellectual property and certain customer assets (together 'the assets') from ACM Group Limited (known in the industry as 'Alpha' or 'ACM') as it continues to enhance its Financials Division's B2B offering. \n \nAs a result of the acquisition of the assets a team from Alpha will join the TradeTech Group and the brand TradeTech Alpha will be created to deliver a bespoke risk management and trading solution to B2B customers. \n \nThe Company also announces that its Financials Division will, from now on, be known as TradeTech Group to better reflect the full capabilities of the businesses within the division and align its brand recognition throughout the industry. \n \nAbout Alpha, the assets acquired and benefits of the acquisition\n \nAlpha is a UK based B2B market maker, dealer and broker focusing on delivering bespoke risk management and trading services to institutional and professional clients. In line with Playtech's strategy to acquire bolt-on technology and additional services, TradeTech Group has agreed to acquire various assets from Alpha including a portfolio of international B2B clients, its proprietary trading technology, and the institutional focused Alpha Pro trading platform. In addition, the trading, risk, dealing and business development teams of Alpha will join TradeTech Group, including approximately 20 staff based in the UK. \n \nFurthering the breadth of TradeTech Group's financial risk management, trading, and market making services is a central part of the strategy to grow its B2B financial offering. The acquisition of these key assets brings with it proprietary technology enabling TradeTech Group to offer an enhanced suite of products and services, which will now include market leading B2B risk management and bespoke trading solutions to the industry. Management believes that success for brokers in the financial trading industry is driven by the ability to acquire customers directly, monitor their performance and monetise their order flows through e...