Connect with us

Hi, what are you looking for?

Jewish Business News


AvaTrade denies Teddy Sagi’ PlayTech acquisition rumours

Teddy Sagi PR

Media reports have revealed that Israeli billionaire Teddy Sagi‘s Playtech has bought the currency trading platform AvaTrade, this according to a source with knowledge of the deal.

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

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.

But reporter Mike Fox of LeapRate has learned from senior sources at AvaTrade, as well as Ava’s ownership group, that recent rumors regarding the company’s pending sale to Teddy Sagi’s PlayTech PLC (LON: PTEC) or other Sagi owned entities which include recently acquired AvaTrade competitor (Safecap Investments Ltd) ” …are totally untrue.”

Mike Fox claimed that PlayTech buying was a deal between two Teddy Sagi controlled companies, where he essentially folded ownership of his online trading business, Safecap Investments Ltd which included and, into the  publicly traded PlayTech.

AvaTrade which is majority owned by its two co-founders Emanuel Kronitz and Negev Nosatzki has no ownership in,  or connection to, any of these companies.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


Now Platika joins and elite club of $10 billion plus Israeli firms.