Playtech has backed off another acquisition and will not acquire forex financial trading platform Ava Trade.
The deal had been opposed by the Central Bank of Ireland.
Playtech had appealed the CBI ruling which was allowed by the Irish Financial Services Appeals Tribunal on “the grounds of error by the CBI’s decision making progress,” SBC News reported.
But Ava Trade moved to terminate the $105 million acquisition last month and, Playtech decided to withdraw its application, “bringing the process to a conclusion.”
Playtech also cancelled a £460 million pound acquisition of contract trading platform Plus500 last moth since the deal could not be completed by its December 31 target date, according to SBC News.
