Playtech confirms £50m acquisition of slots specialist Eyecon
Playtech has announced the acquisition of online gaming slots software supplier Eyecon for a total consideration of £50 million (€58.2 million/$62.2 million).
Founded in 1997, Eyecon has developed more than 70 games and also established its own remote gaming server (RGS), which provides content to major operators, such as 888 and Virtue Fusion, Playtech’s bingo network.
In a statement, Playtech said that the addition of Eyecon’s content will boost its own position in the UK market, while the RGS and distribution network is set to enhance the penetration of Virtue Fusion.
As part of the acquisition agreement, Eyecon founder Scott Murray will remain with the business for at least three years.
“I am delighted that Eyecon will be joining the Playtech family. 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,” Murray said.
“We look forward to building upon Eyecon's reputation for delivering gaming excellence and taking the next step in development with Playtech.”
Mor Weizer, chief executive of Playtech, added: “Eyecon adds premium quality games to Playtech’s stable of industry leading content. We look forward to working with the Eyecon team who will bring robust technology and further industry expertise to the Playtech family.
“This acquisition is the latest in our strategy to acquire bolt-on technology and content in our key gaming markets, providing Playtech with even greater penetration and reach, as well as bringing additional regulated revenues to Playtech.”
The maximum consideration comprises an initial payment of £25 million on a cash-free and debt-free basis, with an additional sum of £25 million payable on an earn-out basis of six times Eyecon’s earnings before interest, tax, depreciation and amortisation during the period to June 2019.
Meanwhile, Playtech has announced that it has signed its largest, multi-year exclusive branded games content deal with Warner Bros. Consumer Products, on behalf of DC Entertainment, to license and develop a catalogue of branded omni-channel casino games content.
Each of the new games will be linked to the 'DC Super Heroes Progressive Jackpot', with players also having access to a series of tiered jackpots, while the omni-channel pledge allowing players to access games from various devices and locations.
Warner Bros. Pictures titles that are set to feature in the range include 'Suicide Squad', the Batman Dark Knight Trilogy and 'Batman v Superman: Dawn of Justice'.
"We’ve had phenomenal feedback from our licensees based on the high-quality and calibre of the DC-branded games we rolled out in 2016," Weizer said.
“Today’s agreement takes this launch strategy to the next level by allowing Playtech to expand its robust offering with an array of new games branded to blockbuster DC film titles.
"This partnership is a testament to our innovative and forward-looking global casino teams and we’re thrilled to work with Warner Bros. Consumer Products to deliver even more cutting-edge, best-performing DC-branded games."
Related article: Playtech claims industry-first with omni-channel launch