Home > Casino & games > GIG to acquire affiliate assets from Magenti Media

GIG to acquire affiliate assets from Magenti Media

| By iGB Editorial Team
Gaming Innovation Group (GIG) has agreed a deal to acquire the affiliate assets from Sweden-based affiliate network company Magenti Media.

Gaming Innovation Group (GIG) has agreed a deal to acquire the affiliate assets from Sweden-based affiliate network company Magenti Media.

Under the agreement, GIG will take ownership of a number of referral sites, a team of search engine optimisation (SEO) experts, as well as recurring revenues from the existing portfolio of affiliate accounts with partnering operators.

The deal is worth a consideration of SEK47.5 million (€5.1 million/$5.8 million), with SEK32 million to be settled with new GIG shares based on the average share price the five trading days prior to closing.

An additional one million options will be issued to employees at closing on terms that are yet to be defined

GIG said that the acquired assets will complement its existing affiliate operations within its Innovation Labs, with operating profit set to grow by approximately €1 million on a 12-month rolling basis.

The affiliate network, which mainly targets the Swedish casino market, is also set to generate more than 45,000 new depositing customers to B2B clients and GIG’s own operators on a yearly basis.

Subject to a satisfactory due diligence, the deal is expected to be concluded by May of this year.

Robin Reed, chief executive of GIG, said: “We are happy to conclude the acquisition of a growing, high value affiliate network which will enhance Innovation Labs' position in referring paying users in the Swedish casino market.

“In addition to the acquired assets, it is agreed to merge the talents of the companies, bringing in over 10 years of iGaming online marketing experience from Magenti Media.

“As we are building out our distribution channel for the top performing brands in the industry, we need the best people available to deliver even more quality online resources for end-users.”

Related article: Gaming Innovation Group to acquire OddsModel

Subscribe to the iGaming newsletter