Gambling technology company Playtech Plc said it would buy a majority stake in TradeFX Ltd for 208 million euros ($224.4 million) in cash to enter the trading platform and payment services market.
Playtech will buy a 91.1 percent fully-diluted stake in TradeFX with an earn out payment of up to 250 million euros based on future performance.
The deal is expected to close in May and would immediately add to its earnings, Playtech said on Thursday.
Shares in the company were up 4.3 percent at 809.5 pence at 0727 GMT on the London Stock Exchange. ($1 = 0.9270 euros)
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