Playtech Acquires Eyecon
One of world’s largest gambling software developers Playtech continue to make waves across the industry and their $62.2 million acquisition of Eyecon – commonly referred to as slot specialists – is just the last in line.
Aiming to boost their reputation in the United Kingdom market, Playtech have decided to add Eyecon and their online gaming slots software to enhance the growth of the company.
A company with a 20-year experience in the gaming business, Eyecon boasts a portfolio of over 70 games, whereas one of the major features about this company is their remote gaming server (RGS) which is used by world’s top operators which include Playtech’s own bingo network.
Exactly bingo games are Eyecon’s main focus as the company operates mainly within the UK. This slot specialised company boasts fully regulated revenues, most of which are also generated from within the United Kingdom.
Virtue Fusion Promotion
With Playtech taking over the company, it is now expected that Eyecon’s RGS and distribution network will be used to strengthen the promotion of Virtue Fusion.
As part of the agreement between Playtech and Eyecon, the company’s founder Scott Murray will stay with the firm for at least another three years.
Speaking upon the acquisition announcement, Murray shared his excitement of the new chapter ahead of his company.
“Integrating Eyecon’s specialist games and software with Playtech’s distribution power will allow us to penetrate new markets and retain our standard of best-in-class content,” he said.
The purchase agreement between Playtech and Eyecon includes two separate payments worth $31.1 million, one of which is the initial payment made on cash-free and debt-free basis, whereas the second instalment is payable on an earn-out basis during the period to June 2019.