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Playtech Acquires Tribeca's European Network

Business, 2006-11-13, by TwoGun

Playtech and Tribeca have announced that Playtech will acquire the European part of Tribeca's network. European-facing poker rooms that are a part of Tribeca's network include Paddy Power Poker and Victor Chandler Poker. US-facing poker rooms such as Doyles Room are not part of this deal.

Playtech powers the Ipoker network, which includes rooms such as Noble Poker and Titan Poker. Both Playtech and Tribeca were medium-sized poker network prior to this deal's announcement, but combined will account for one of the largest shared poker rooms.

The deal is structured as an earn-out, with the final price ranging from $79 million to $139 million depending on the revenues generated from the acquisition.

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