Sportech reveals latest on takeover talks

Sportech reveals latest on takeover talks

Monday, October 26, 2015 Totally Gaming
Negotiations with Contagious continuing ahead of November 6 D-Day

Sportech remains in talks over a possible takeover by Contagious Gaming, which has until November 6 to make a firm offer for the UK gaming group, it was revealed today (Monday).

As the industry’s leading suppliers and operators continue to consolidate, Sportech confirmed that negotiations are ongoing regarding a possible deal in an announcement this morning that chief financial officer Cliff Baty would be leaving the company to take up the same role at English Premier League football club Manchester United.

News of the possible deal for Canada-based Contagious to snap up Sportech first emerged in August. Sportech asked the Takeover Panel to extend the London Stock Exchange deadline for talks to continue in September and then made a similar request earlier this month.

Baty’s contract has a notice period of 12 months. His departure date will be confirmed in due course, but in the meantime he will aid the search for his successor.

“Cliff has been an important part of our management team since May 2013, and during that time, he has built a strong finance function across our international operations,” Sportech chief executive Ian Penrose said. “On behalf of the board, I wish him every success.”

Baty added: “I have enjoyed my time at Sportech and am proud of the progress that we have made in developing the group. I wish Ian and the team all the very best as they continue to take Sportech forward.”

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