ware and services provider Playtech has agreed to purchase Aristocrat Lotteries, a subsidiary of Australian supplier Aristocrat Leisure.

Playtech will pay €10.5m in cash, subject to certain adjustments and closing conditions.

Once completed, the acquisition will position Playtech’s land-based operation as one of the leading suppliers of video lottery terminal (VLT) systems in Europe and Latin America.

Aristocrat Lotteries is the exclusive server-based gaming provider for Norwegian lottery Norsk Tipping’s VLTs and supplies its system to a major operator in Italy – a key jurisdiction for Playtech.

The company has also recently completed a successful pilot project in another well-established regulated European country which, if commercialised, is expected to deliver further revenue opportunities.

Playtech COO Shay Segev said: “This is an excellent deal and further strengthens our leading position to retail operators in key regulated markets, while also creating new opportunities to expand in those territories as well as others.

“The Aristocrat Lotteries business is led by a first-class management team and has an excellent team of developers. We look forward to working closely with them in the future in order to build and further the results they have already achieved.”