2016 has been very busy for Playtech, as the online gaming giant has recently announced the acquisition of two companies: online slots developer Quickspin and social games designer Funtactix. These two acquisitions will help to further boost Playtech’s already impressive online gaming offering. Playtech announced its Quickspin acquisition last week. To acquire the company, Quickspin will pay a total of $77 million over the course of the next two years. A payment worth just over $30 million will be made initially to purchase 100% of Quickspin’s shares and the remainder will be paid out based on the company’s earnings in 2017 and 2018. “We are delighted to welcome Quickspin into the Playtech group,” says Playtech SEO Mor Weizer in a statement about the Quickspin acquisition deal. Quickspin is a fast-growing and leading supplier of the highest quality games to the highest quality operators, strengthening Playtech’s position as the leading platform and content provider in the industry. The two companies will be able to build on each other’s strengths. Playtech will be able to offer its network of over 100 casino operators access to Quickspin’s innovative and highly sought-after titles while Quickspin will be able to expand its reach in the online gaming market. The Funtactix acquisition was just announced yesterday, so few details about this deal are known as of yet. The cost of the acquisition has not been disclosed – but, we can imagine that it is likely as much as the Quickspin deal. Funtactix is a well-known casual games developer that has created some of the most popular releases in recent years. It impressive collection of games includes Real Boxing, Power Rangers Unite and The Hunger Games Adventures. This is yet another strategic move by Playtech to expand into the world of social and casual gaming. The market is becoming increasingly more lucrative and social games become more and more popular. So, the company wants to get a decent foothold before the market becomes saturated. “The Playtech casual games division has a clear strategy and direction and we're very confident it will continue to go from strength-to-strength,” says Shimon Akad, COO of Playtech in a statement from iGaming Business. “The acquisition of Funtactix enables us to offer a complete suite of content and software to players, designers and third parties including some of the largest studios and brands in the world.”