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NEWS 21 October 2016

Playtech acquires bingo solutions provider ECM Systems

By Tom Lewis
Industry supplier Playtech has announced its acquisition of UK-facing bingo software and hardware solutions provider ECM Systems.

Playtech paid an approximate total of £14.9m for 90% of the issued share capital of ECM, with the other 10% staying in the hands of Allen Richardson, who will remain as CEO for the next three years.

ECM reported revenue of £9.1m and adjusted EBITDA of £4.5m for financial year 2016, while Gala Leisure and Mecca Bingo number among the company’s major clients.

Referring to ECM’s products as “instrumental to the daily operation of retail bingo in the UK and the Republic of Ireland”, Playtech said the acquisition empowers it “to provide omni-channel solutions to the bingo operators by connecting their retail and online operations as well as providing a platform to supply Playtech content”.

Chief Executive of Playtech, Mor Weizer, commented: “ECM has a leading position within the bingo hall sector, including its extensive range of handheld devices that enable players to enjoy a digitial experience within a familiar retail environment.

“This is a significant step in strengthening and expanding our Playtech ONE offering within the bingo sector and we look forward to working with Allen and the whole ECM team.”
RELATED TAGS: Mergers & Acquisitions
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