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Playtech has agreed to purchase Swedish games developer Quickpin for €50m

UK-listed gaming software company Playtech has acquired the Swedish slot game developer Quickspin for a reported €50m ($56m or £34m), subject to earnings before tax.

The deal marks a renewed push by Playtech to establish itself as a leading producer of slot gaming technology. The company purchased UK gaming companies Ash Gaming and Virtue Fusion several years ago, but has been focused on financial products for the last few years.

Quickspin has a growing portfolio of over 20 games, available on mobile, tablet and desktop. There slot games are integrated into several online casinos and are popular in countries thoughout Europe.

Speaking about the recently agreed deal, Mor Weizer, chief executive of Playtech, said: “Quickspin is a fast-growing and leading supplier of the highest quality games to the highest quality operators, strengthening Playtech’s position as the leading platform and content provider in the industry.

“We look forward to working with the Quickspin team and to see the Quickspin brand continue to flourish within the Playtech family.
“Playtech remains in active discussions for a number of other bolt-on acquisitions as well as larger acquisitions in the gaming division, together with discussions for selective bolt-on acquisitions in the financials division.”