Online gambling technology provider Playtech has made a $105m bid to acquire Ava Trade, a Dublin-based online forex and contracts for difference (CFD) outfit.

The bid was made through Playtech’s recently acquired CFD operation TradeFX, which was formerly owned by Playtech’s founder and largest shareholder Teddy Sagi, who has made more than a few fistfuls of dollars selling companies to Playtech over the years.

Playtech says there is “limited overlap” between the two financial trading businesses and thus the acquisition would “substantially expand and enhance TradeFX’s existing position through the diversification of customers and geographies.” The $105m bid price represents 6x Ava Trade’s 2014 adjusted earnings.

Playtech CEO Mor Weizer called the potential acquisition “another important milestone” in the company’s expansion strategy. Playtech said it has agreed to a €200m unsecured revolving credit facility with Barclays and the Royal Bank of Scotland to fund the acquisition and “further growth initiatives.”