logo
logo

Gaming Innovation Group Acquires Askgamblers

Dec 15, 2022•over 2 years ago

Acquiring Company

Gaming Innovation Group (GiG)

Acquired Company

AskGamblers

Description

Gaming Innovation Group Inc. (GiG) has today signed an agreement to acquire the casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com and several smaller domains from Catena Media Plc. The total consideration is EUR 45 million, of which EUR 20 million will be paid in cash on closing, EUR 10 million twelve months after closing and the EUR 15 million balance 24 months after closing. Closing is expected in Q1 2023.

Company Information

Company

Gaming Innovation Group (GiG)

About

Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-completes-acquisition-of-sportnco,c3537941 The following files are available for download: https://mb.cision.com/Main/15972/3537941/1558122.pdf Release SOURCE Gaming Innovation Group

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed