Gambling giant Playtech has agreed to pay approximately £14.9 million (€16.7 million/$18.2 million) for 90 percent of the issued share capital of ECM Systems, a UK-facing bingo software and hardware solution company.
ECM posted revenues of £9.1 million and an adjusted EBITDA of £4.5 million during the 2016 financial year and has major clients such as Mecca Bingo and Gala Leisure among its high-profile customers. ECM has an extensive range of products that are instrumental to the daily operation of retail bingo in the United Kingdom and Ireland, but in the last few years, ECM has invested in its digital strategy, something that Playtech is a leader in.