Playtech Limited said today that it has agreed to acquire Gaming Technology Solutions Limited (GTS) in a deal worth up to €21.6 million.

Playtech will pay an initial €10.8 million for the acquisition with further payments based on the future profitability of GTS over the next two years, capped at €21.6 million. GGTS is the owner of the popular EdGE open gaming platform.

From Gaming Intelligence:

For Playtech the acquisition delivers a highly regarded open platform, a range of games which complement its own core in-house products and an enhanced product pipeline, combining to produce a substantial games selection library of both casino and soft games. Playtech will also benefit from access to GTS’ licensees, the majority of which are not current Playtech customers.

GTS provides its gaming solutions to some of the most well established gaming companies in the industry with agreements in place with 15 licensees and 30 separate online gaming brands including the likes of bwin, 888, Sportingbet, Unibet and BetClic.