Gopher agrees with Playtech to acquire Finalto for $250mn

LONDON, UK: Gopher Investments has entered into an agreement with Playtech to acquire its financial trading division, Finalto, for $250 million.

Gopher is a 4.97% shareholder in Playtech, and welcomes the unanimous support of the Playtech Board and expects to complete the transaction in H1 2022.

The transaction is subject to Playtech shareholder approval and regulatory clearances.

Mor Weizer, CEO of Playtech commented: “We are very pleased to have successfully reached an agreement with Gopher regarding the sale of Finalto. This transaction delivers on our strategy to simplify the Group to focus on the high-growth B2B and B2C gambling markets.

“I would like to thank everyone at Finalto for their tremendous contributions to Playtech and wish them every success. We are pleased to recommend this transaction to our shareholders, and we remain well placed to capitalise on the exciting market opportunities ahead, driving sustainable growth for the benefit of all our stakeholders.”

Teresa Teague, Partner at TT Bond Partners, commented: “Gopher has been impressed by the strength of Finalto’s business and management team and looks forward to working closely with the team to support the business in this exciting next stage of its evolution.

“As a major shareholder in Playtech, Gopher is pleased to conclude a transaction delivering value for all shareholders and looks forward to working with the Playtech Board and continuing its constructive dialogue to support growth.”

Gopher is an investment vehicle backed by investors with experience in gaming and financials, and is an affiliate of TT Bond Partners (TTB).

TTB, through its Hong Kong regulated entity, TTB Partners Limited, which is advising Gopher on this transaction, is an investment and advisory firm based in Hong Kong, whose founders and professionals have over 30 years’ experience in the financial services industry investing and advising on over $250 billion of transactions in the US, Europe, and Asia.

TTB has significant experience in investing in assets in the technology-driven financial services sector. Recent investments include: Xen Financial, a next-generation investment platform providing fractionalised access to private markets; KASB, a stock brokerage in Pakistan, and creator of KTrade, Pakistan’s leading retail stock trading app; Finhabits, a US-based leading bilingual money app designed for Latinos’ financial success; Selfin, a digital microlending platform focused on financial inclusion of microenterprises in India; Aspen Digital, an innovative technology-driven platform that empowers asset and wealth managers to offer digital asset products with confidence, driving mass adoption of digital assets and blockchain technologies; Coherent, a Hong Kong based insurtech company building digital platforms for insurers; and M7 Real Estate, a UK and EU based real estate asset manager.