Playtech Acquisition of Markets.com Gets Shareholder Approval

Playtech today announced that shareholders have approved its pending acquisition of TradeFX, the holding company behind Markets.com. According to terms of the deal, Playtech is acquiring 91.1% of TradeFX, and providing an initial cash payment of €208 million with up to an additional €250 million paid by December 2017, dependent on the future EBITDA of the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options brokerage business.

The deal was approved by shareholders by a 99.59% to 0.41% margin.

As stated when first announced, Playtech expected the deal to accretive to shares of the company. Despite questions whether Tedi Sagi, who owns 40% of Playtech stock as well as 86.45% of TradeFX, was using the firm’s capital to line his own pocket, the deal was approved by shareholders by a 99.59% to 0.41% margin.

According to Playtech, the firm expects the deal to be completed no later than May 31st 2015. Upon completion of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, TradeFX, along with its assortment of trading and technology units, Markets.com, TopOption, and Keystone Trading Technologies, will become a subsidiary division of Playtech, with the existing management team expected to keep their roles.