Playtech buys Virtue Fusion

Mobile and internet software provider Playtech has acquired online bingo business Virtue Fusion for up to £36 million.

Mobile and internet software provider Playtech has acquired online bingo business Virtue Fusion for up to £36 million.

Founded in 1999, Channel Islands-based Virtue Fusion has over 20 licensees, including Ladbrokes, Bet365 and Sky, and generated turnover of £12.3 million in 2009. The deal comes shortly after Playtech’s acquisition of Gaming Technology Solutions for €32.4 million (£29.4 million).

Mor Weizer, CEO of Playtech, which produces a range of internet products such as poker and casino games, says that the deal consolidates its position in the online bingo market.

Playtech reported an increase in revenue of 23 per cent to €137.3 million in 2009.

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary... More by Nick Britton