Playtech Announces Asset Acqu

RNS Number : 3074B

Playtech Limited

14 August 2008

 



14 August 2008

Playtech Ltd

('Playtech' or the 'Company')

Playtech Announces Asset Acquisition of MIXTV

Playtech (AIM: PTEC), the international designer, developer and licensor of software to the online and land based gaming industry, is pleased to announce the asset acquisition of MIXTV Ltd ('MIXTV') for a total cash consideration of USD 1.75M. MIXTV is a subsidiary of Win Gaming Media, Inc (OTCBB: WGMI.OB) which provides leading end-to-end technology for the delivery of mass-multi-player live gaming applications via linear broadcast television and interactive live TV shows, on analogue, digital, terrestrial, cable, satellite TV networks, and web broadband TV. 

In addition to the asset acquisition, Playtech has signed a license and service agreement with Win Gaming Media, a leading service provider for key players in the gaming arena, such as Virgin Media Television (part of Virgin Media, the UK's leading entertainment and communications company) and Teletext. 

Through the incorporation of MIXTV's mass-multiplayer functionality Playtech will further maintain its leading position in live gaming. MIXTV's patented technology brings advanced user experience and quality live streaming products accessible via a unique combination of TV and internet media by bringing interactive gaming content to the mass market. The company anticipates that the asset acquisition is a further opportunity to expand the range of platforms it offers to its current licensees and for attracting new operators.

The asset acquisition underlines Playtech's strategy of acquisitive and organic growth. The company continues to seek earning enhancing acquisitions and states that it will continue to be opportunistic in this regard. The Company continues to undertake due diligence in regard to an affiliate company, one of a number which it is entitled to acquire, and so far progress has been satisfactory.

Mor Weizer, Chief Executive Officer of Playtech, commented today: 

'As the leading software provider to the online gaming industry, the acquisition of MIXTV mass-multiplayer live gaming solutions enables us to further extend our products portfolio, making our products available on all forms of interactive media. We are excited about the potential this presents for further enriching our range of platforms and the new cross selling opportunities the live gaming products create for our existing and potential new licensees. We are looking to continue realising our vision of enriching our products offering through new best in class innovative products.' 

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For Further Information:

Mor Weizer, CEO, Playtech Ltd
c/o Bell Pottinger Corporate & Financial	Tel: [phone]
www.playtech.com
Tim Mickley
Collins Stewart	Tel: [phone]
David Rydell / Chris Hamilton / Helen Tarbet
Bell Pottinger Corporate & Financial	Tel. [phone]

About Playtech 

Playtech develops unified software platforms for the online and land based gambling industry, primarily targeting existing online operators wanting to upgrade their system; sportsbooks looking to diversify and land-based operators making their online debut. Playtech gaming applications - online casino, poker, bingo, mobile gaming, live gaming, land-based kiosk networks and fixed-odds games - are fully inter-compatible and can be freely incorporated as stand-alone applications, accessed and funded by players through the same user account and managed by the operator by means of a single powerful management interface. Founded in 1999, Playtech has over 750 personnel distributed globally, around seventy five percent of whom are engaged in research and development of current and future gaming technologies. 

Website: www.playtech.com 

About Win Gaming Media, Inc.

Win Gaming Media Inc. (OTCBB: WGMI - News) is a leading software provider in the interactive gaming industry, delivering cross-platform systems designed to handle mass participation gaming over mobile devices, TV and the Internet. Win Gaming Media specialises in delivering innovative entertainment platforms, including TV 2.0 and interactive live TV gaming. With an array of world-class solutions deployed globally and partnerships with key players in the gaming arena, including Cablevision, Lodgenet and Two Way Media, its partner in subsidiary Two Way Gaming, Win Gaming Media is a driving force in the global gaming industry. Win Gaming Media is based in Nevada, U.S.

Win Gaming Media press contact: Rinat Rond, Koteret Public Relations, Tel: [phone] Email: [e-mail]

 

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