$100 Million Acquisition for SafeCharge Likely

The industry-watched $100 million SafeCharge acquisition is moving forward.

$100m Turns the Trick on London AIM

Teddy Sagi's SafeCharge has been committed to the acquisition at this level to expand its client base as of chief executive David Avgi's assertion in an interview just published with Reuters.

To this end, SafeCharge International Group plc currently holds its IPO on London’s Alternative Investment Market (AIM). The posting, which did not include an offer for shareholders to sell, ended up raising gross £75.8 million ($126 million) at a company value of £242.6 million ($404 million). The Alternative Market comeback and a stock market rally brought in a 25% over goals.

Sagi has a bit of introducing public companies in the British capital market, having already successfully brought in leading online gaming platform provider Playtech Cyprus Ltd., currently capped on the market at £1.9 billion ($3.2 billion).

Digital Wallet Entry

Already counting online gambling casinos Grosvenor and Ladbrokes among the SafeCharge online casino clients, the point of raising the funds at that level, according to Sagi, is to use them to launch a digital wallet for online gambling transactions. Digital wallets have come into popularity for investment because of the high volume of funds now being used in the expanding online gambling industry, as well as the room for competition in the digital wallet sector, where revenues are fixed to online gambling industry growth.

SafeCharge was founded in 2010 as a way to provide solutions for faster and more reliable payment processing for gambling transactions. Until now it has served in the online gambling market as primarily a back end service provider offering “Cashier” product technology to gaming operators.