There’s no longer legal impediment that could stop UK-listed technology supplier Playtech Plc from acquiring Italian betting and gaming operator Snaitech SpA (Snaitech).

In a disclosure to the London Stock Exchange, Playtech announced that the Italian regulator Agenzia delle Dogane e dei Monopoli has approved its plan to buy a majority stake in Snaitech for a sum of €291 million ($359.2 million).

The multi-million euro deal involves an estimated 70.6 percent of the issued share capital of Snaitech, according to Playtech. Upon the completion of the initial acquisition, Playtech will be required to make a mandatory offer for all remaining Snaitech shares.

Playtech CEO Mor Weizer said that he sees the acquisition as an opportunity “to improve the quality and diversification of Group revenue” while“delivering exposure to high growth end markets, by utilizing the strength of Playtech’s balance sheet.”