Playtech, Israeli Billionaire's Online Gaming Software Provider, Buys Trading Platform AvaTrade

The purchase exercises is the latest in a series of acquisitions made by Sagi, who has an estimated net worth of $3.5 billion.

Patrick Graham and Jemima Kelly
Teddy Sagi
Entrepreneur and investor Teddy Sagi.Credit: Nick Clarke
Patrick Graham and Jemima Kelly

REUTERS - Israeli billionaire Teddy Sagi's Playtech, a provider of online gaming and sports-betting software, has bought currency trading platform AvaTrade, a source with knowledge of the deal said on Wednesday.

The purchase exercises an option held a month ago when UK-based Playtech sealed the purchase of another online trader,, and is the latest in a series of acquisitions made by Sagi.

Sagi, who has an estimated net worth of $3.5 billion according to Forbes, is also the owner of much of Camden Market, which in terms of visitors ranks as London's second biggest tourist attraction after Buckingham Palace.

Israeli financial newspaper Calcalist reported on Monday that Sagi was in advanced talks to buy AvaTrade for $100 million. It said AvaTrade had an operating profit of $20 million in 2014.

AvaTrade Chief Executive Officer Dáire Ferguson declined to comment. Sagi could not immediately be reached for comment.

Click the alert icon to follow topics:



Automatic approval of subscriber comments.

Subscribe today and save 40%

Already signed up? LOG IN


Yair Lapid.

Yair Lapid Is the Most Israeli of All

An El Al jet sits on the tarmac at John C. Munro International Airport in Hamilton, Thursday, in 2003.

El Al to Stop Flying to Toronto, Warsaw and Brussels

An anti-abortion protester holds a cross in front of the U.S. Supreme Court in Washington, D.C.

Roe v. Wade: The Supreme Court Leaves a Barely United States

A young Zeschke during down time, while serving with the Wehrmacht in Scandinavia.

How a Spanish Beach Town Became a Haven for Nazis

Ayelet Shaked.

What's Ayelet Shaked's Next Move?

A Palestinian flag is taken down from a building by Israeli authorities after being put up by an advocacy group that promotes coexistence between Palestinians and Israelis, in Ramat Gan, Israel earlier this month

Israel-Palestine Confederation: A Response to Eric Yoffie