Gaming software company Playtech has announced that it had come to an agreement to acquire online poker affiliate site PokerStrategy.com from the latter’s parent company, etruvian Holdings Ltd. for a price of 38.3 million euros in what is being described as a “bolt-on” acquisition.
In its regulatory statement following the acquisition, Playtech laid out its plans for PokerStrategy.com, expressing optimism that the deal would further diversify its business profile by opening up the world’s largest independent poker school and community to licensees, “thereby cementing existing relationships and creating incremental opportunities for both software and PTTS marketing.”
The publicly-traded company runs iPoker network and having PokerStrategy.com will allow it to expand its marketing opportunities beyond its business as a service provider to operators. It’s a sound move considering that Playtech’s poker revenues for the year so far haven’t been up to par with its other businesses so having PokerStrategy on board would give it an opportunity to recalibrate its poker business with the help of sharp poker minds infusing it with new strategies and ideas to give the business a good ‘ol shot in the arm.
PokerStrategy.com, on the other hand, won’t be reintroduced or rebranded into anything other than what it has been doing in the time that it’s been around. “PokerStrategy.com will stay fundamentally the same and maintain its independence in the market,” the online poker site said in a statement posted on its website. “We will continue working with all of our current partners and continue to add additional poker rooms for you to choose from, without any restrictions.”
PokerStrategy is also expected to work closely with Playtech to help the software company upgrade its poker software as well as enhance the full breadth of the iPoker network with the intention of helping the iPoker network improve its overall poker product.
The company’s founders, Dominik Kofert and Enrique Guzmán, will stay on at the business as consultants. Likewise, Damian Sokol and Pavel Stehno will continue in their positions as PokerStrategy’s chief executive officer and chief operating officer, respectively.