- Gambling software business Playtech (PTEC) has reached an agreement with certain shareholders of Snaitech to acquire around 70.6 per cent. of the business for €846m.

Upon completion of the Initial Acquisition, Playtech will be required to make a mandatory takeover offer for all the remaining shares in Snaitech. Completion of the Initial Acquisition is subject to certain regulatory and shareholder approvals and is expected to occur in Q3 2018, with the overall Transaction expected to complete in Q4 2018.

At 9:32am: [LON:PTEC] Playtech Ltd share price was +64.5p at 825.9p

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