GIG continues M&A spree with affiliate network purchase
Gaming Innovation Group (GIG) has continued its M&A-focused growth strategy and marketing services expansion through the €5.7 million ($6.1 million) purchase of an unnamed “highly regarded” affiliate network that targets bettors in central Europe.
The acquisition includes a network of sportsbook websites in Germany, Austria and Switzerland, and all related assets, IP and affiliate accounts.
GIG said the purchase expands subsidiary Innovation Labs’ geographical footprint in the region and “significantly strengthens” its sportsbetting assets.
The unnamed network provides reviews and betting tips to users on upcoming sporting events.
GIG said current yearly revenue run-rate of the acquired assets is approximately €1.4 million and with a EBIT margin of above 85%.
The acquisition of the network, set to be finalised in June, is expected to add at least another 5,000 first-time depositors over the coming 12 months.
The network will be integrated into Innovation Labs own BI/Data proprietary systems and marketing platforms, providing both technological and operational synergies.
"We aim to make Innovation Labs the largest lead generation business in iGaming," GIG chief executive Robin Reed said.
"Through this acquisition, we are entering the DACH markets whom are likely to be re-regulated in the future, and are therefor 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."
The acquisition comes just a month after GIG entered into agreement to acquire Casinotopsonline.com for €11.5 million in what it described as “our largest in the affiliate space to date”.
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