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CORRECTED-Playtech seeks deal with online trading platform AvaTrade
May 14, 2015 / 7:42 PM / 3 years ago

CORRECTED-Playtech seeks deal with online trading platform AvaTrade

(Corrects May 13 story to say Playtech is in talks to buy AvaTrade, removes reference to option, adds detail on ownership of Camden Market)

By Patrick Graham and Jemima Kelly

LONDON, May 13 (Reuters) - Israeli billionaire Teddy Sagi’s Playtech, a provider of online gaming and sports-betting software, is in talks to buy currency trading platform AvaTrade, a source with knowledge of the deal said on Wednesday.

Last month, UK-based Playtech sealed the purchase of another online trader, markets.com, the latest in a series of acquisitions made by Sagi.

Sagi, who has an estimated net worth of $3.5 billion according to Forbes, is also the majority shareholder in Market Tech -- the owner of much of Camden Market, which in terms of visitors ranks as London’s second biggest tourist attraction after Buckingham Palace.

Israeli financial newspaper Calcalist reported on Monday that Sagi was in advanced talks to buy AvaTrade for $100 million. It said AvaTrade had an operating profit of $20 million in 2014.

AvaTrade Chief Executive Officer Dáire Ferguson declined to comment. Sagi could not immediately be reached for comment. (Editing by Keith Weir, Alexander Smith and David Evans)

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