Playtech buys Israeli co Ava Trade for $105m

Teddy Sagi

Ava Trade is a contract-for-difference foreign exchange broker.

Playtech Cyprus Ltd. (LSE:PTEC), controlled by Teddy Sagi, announced today that its subsidiary TradeFX will buy Israeli company Ava Trade for $105 million.

Ava Trade is a contract-for-difference (CFD) foreign exchange broker founded in 2006.

The company has a monthly trading volume of $60 billion, with over two million trades a month.

Published by Globes [online], Israel business news - www.globes-online.com - on July 1, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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