Playtech acquires 70% of CFH
Having concluded its regulatory filing with the London Stock Exchange, Playtech Plc has completed its acquisition of 70% of Consolidated Financial Holdings A/S, a technology company based in London and Copenhagen.
Playtech first announced its intension to acquire CFH Group in November, with the company prepared to pay $120 million (£95 million) for the financial trading systems developer. Playtech expects to purchase the remaining 30% in 2019 pursuant to put and call option arrangements.
Consolidated Financial Holdings’ products include a leading Straight Through Processing brokerage which provides retail agents with “multi-asset execution, prime brokerage services, liquidity and complementary risk management tools”. ‘CFH Clearing’ and ‘CFH Systems’ will be integrated within Playtech’s current financial trading portfolio as the company aims to improve both its B2B and B2C customer services.
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