Playtech Acquires Quickspin
Casino game software giant Playtech will purchase up-and-coming Swedish developers Quickspin in a deal that could be worth up to €50 million, it was announced earlier this week.
Based in Stockholm, Quickspin is a fast-growing games studio that has quickly carved out a reputation for itself by providing high quality video slots to a number of online casinos and social gaming operators. The company currently boasts almost 30 titles spread across more than 40 clients.
Having been in operation for several years now, Quickspin has attracted significant praise for the diversity of its slot gaming portfolio and can already boast a number of new customers tied to future deals and several new games in the pipeline. Not ones to ignore an emerging talent, Playtech noted the rapid expansion of Quickspin and decided to make the group an offer, which has been accepted.
Starting at an initial payment of €24 million for 100% of the company, Playtech will pay a maximum consideration of €50 million to acquire Quickspin, with the remaining €26 million being based on the company’s profits in 2017 and 2018. The three founding members of Quickspin, meanwhile, will remain at the business for at least three years as part of the agreement between the two parties.
Speaking of the acquisition Chief Executive Officer at Playtech, Mor Weizer, said: “We are delighted to welcome Quickspin into the Playtech group. 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.”
Having already acquired Ash Gaming a few years ago, the purchase of Quickspin looks set to further cement Playtech’s position as one of the major players in the world of online casino gaming. The company currently boast an incredibly impressive portfolio of titles including fan favourites like Great Blue, Sultan’s Gold and Gladiator Jackpot, with more games being added virtually every week.
Though the company’s popular selection of Marvel-franchised slots will soon be discontinued to be replaced by the Age of the Gods series, the addition of Quickspin’s existing portfolio of games – which includes Big Bad Wolf and King Colossus – should ensure they remain just as popular as ever.
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