Playtech is lining up what it called a “significant” acquisition with an affiliated company in online gambling, using some of the £112m it raised in a placing last month.

The software provider to the gaming industry, whose clients include PartyGaming and Paddy Power, also announced revenues for the second quarter of $42.4m (£ 21m €27m) up 75 per cent on the same period last year, and 9 per cent on the previous quarter.