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William Hill buys software maker Grand Parade

A cyclist passes a William Hill betting shop in London, Britain July 25, 2016. REUTERS/Neil Hall - RTSJJEU

(Reuters) - British bookmaker William Hill Plc WMH.L said on Tuesday it bought software maker Grand Parade Ltd for 13.6 million pounds ($18 million) in cash and stock.

William Hill said it would issue 495,048 new shares at 10 pence each to Grand Parade as a part of the consideration. William Hill did not disclose the cash portion of the deal.

The acquisition of Grand Parade, a provider of software for betting and gaming companies, comes just weeks after William Hill responded cooly to a proposed joint takeover offer from 888 Holdings 888.L and Rank Group RNK.L.

Reporting by Rahul B in Bengaluru; Editing by Maju Samuel

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