Collas Crill has acted for Playtech Plc, the world's largest online gaming software supplier, in the acquisition of Eyecon, a leading designer of online games, for up to £50 million.
Over recent years, Guernsey and Alderney have invested heavily in attracting online business to the islands. This investment, when matched with the strong infrastructure and the pragmatic, business friendly regulatory approach of the islands, has created a thriving hub for the E-Gaming and FinTech sectors.
Eyecon's rapid growth serves as a perfect example of what companies can achieve in the online space from Guernsey and Alderney. Since first establishing its presence in Guernsey and Alderney in 2013, Eyecon has become a leading provider of online games, with over 6 billion spins per year.
The Eyecon acquisition was lead by David McLeish, corporate partner at English e-gaming specialists Wiggin LLP. The Collas Crill team was headed by group partner Wayne Atkinson and senior associate Simon Heggs, with property advice provided by partner Paul Nettleship.
Wayne said: "We were delighted to be able to work with Playtech on this exciting acquisition. The success of this transaction is a testament not only to the hard work of all involved but also to the welcoming business environment which the Channel Islands provide."
Mor Weizer, chief executive officer of Playtech, said: "We are delighted to continue the execution of our acquisition strategy by welcoming Eyecon to the Playtech Group. Eyecon adds premium quality games to Playtech's stable of industry leading content. We look forward to working with the Eyecon team who will bring robust technology and further industry expertise to the Playtech family.
"This acquisition is the latest in our strategy to acquire bolt-on technology and content in our key gaming markets, providing Playtech with even greater penetration and reach, as well as bringing additional regulated revenues to Playtech."