Oslo-listed Gaming Innovation Group (GIG) continues the expansion of its industry affiliate network by confirming that it has agreed to purchase a DACH region (Germany, Austria and Switzerland) marketing asset for a total consideration of €5.7 million.
Updating investors, GIG governance chose not to disclose the assets name, but stated that its acquisition would bolster the firm’s German language sports betting activity and corporate dynamics.
The asset will be directly managed by GIG affiliate marketing division ‘Innovation Labs’ and sees the company expand its geographical footprint for industry player acquisition services.
GIG governance informs that the acquisition will be settled through the funds gained from its recent SEK 400 million (£35 million) bond issuance credited last February to strengthen the firms continued M&A strategy.
Commenting on the firm’s acquisition note, Robin Reed, CEO of GIG.
“We aim to make Innovation Labs the largest lead generation business in iGaming. Through this acquisition, we are entering the DACH markets whom are likely to be re-regulated in the future, and are therefore markets we are increasingly focusing on. This acquisition will enable Innovation Labs to refer more German speaking customers to our B2B partners and thus benefit all parties engaged in the expanding GIG iGaming eco-system”
In March GIG entered into an agreement to acquire Casinotopsonline.com, GIG informs that all conditions for completing the transaction have now been fulfilled and transaction closing has taken place.
Robin Reed CEO of Gaming Innovation Group will be speaking on Affiliate marketing and M&A practices at the upcoming Betting on Football Conference (3-5 May Stamford Bridge – London).
Source: SBC News