Former F1 Boss Eddie Jordan Considers $3billion PlayTech Bid
Author:
Jacob McKenzie
Eddie Jordan, the former head of Formula One and one of the richest men in the world is considering a $3billion bid for Australian-owned software firm Playtech. He intends to purchase the company after the end of the year as the economy remains unstable due to the impact of the global pandemic. While Australian firm Aristocrat bought out Playtech last month, Eddie Jordan is keen to 1-up the original price and make another offer to tempt them away from the recently acquired asset. New developments on the negotiations will be released soon through Jordan’s representatives.
Eddie Jordan wants to consolidate his assets, and one of his potential goals is to buy gambling software development firm PlayTech. They are currently owned by Australian firm Aristocrat who purchased the company in a $2.7billion deal last month. Eddie Jordan is one of the richest men in the world, and he will certainly press hard to see these negotiations over the line. ?mibro/Pixabay
Eddie Jordan is part of a conglomerate of investors and venture capital firms ready to buy PlayTech if the current owners want to accept. The company has become part of a bidding war as many different companies and business people are interested in purchasing the software development organization. Eddie Jordan as well as many unnamed backers, want to wrestle off the rest of the competition and claim the company for themselves. There’s been no word from Aristocrat representatives on the matter, but a press release is expected very soon.
Aristocrat purchased PlayTech in a deal worth roughly $2.7billion, and it was one of the biggest company takeovers in the world this year. It is an enormous amount of money to acquire a software firm, but many investors are interested in them for several reasons. First of all, PlayTech has developed some of the most sophisticated and advanced gambling-related software over the last decade, and many other online sportsbooks utilize its services to improve their own online presence. They specialize in data and security technology but also develop websites from scratch and provide templates for other businesses to use.
PlayTech’s board may be reluctant to accept another bid for the company, and Aristocrat is unlikely to sell one of its prized assets less than a month after its procurement. Developing new technology in many fields has attracted investors from across the world, and while an Australian conglomerate currently owns them, soon the business could be owned by a firm from any continent in the world. Numerous reports indicate that several Chinese investment funds are keen on purchasing PlayTech for its digital frameworks.
The consortium run by Jordan is called JKO Play, and it has numerous other members involved, the only named individual is Keith O’Loughlin, the former CEO of Scientific Games, another online gambling software developer. With Keith’s expertise in the industry, Jordan has partnered with a suitable candidate for a potential takeover of a similar company. With his consortium of investors behind him, Eddie Jordan is increasingly hopeful of acquiring PlayTech, but the level of negotiations required will be so thorough that they could go on for months.
A Short History of Eddie Jordan
Eddie Jordan was born in 1948 in Dublin, Ireland to a working-class family with little money to spare. While barely witnessing the end of the Second World War, Jordan regularly saw violence and danger on the Irish capital streets. This hyper-activity would eventually lead him onto motor racing. In 1971, he won the prestigious Irish Kart Championship and was signed by Formula Ford three years later. Even after his retirement, he was closely connected to the sport, having a very successful sports media career as a BBC commentator. In 2016 he joined Top Gear as a presenter.
Despite having so many career changes, Jordan has proven to be a potent Entrepreneur and has spearheaded many personal projects over the years as well as investing in others. He is also known for regular charity work and has given over $75million away over the course of the last decade. While PlayTech may seem like an easy coup, Jordan will have to wait for a while to have a chance of procuring the software development company, and as more updates come out, we will post them right here.
