Gaming Innovation Group (GiG) has entered into an agreement to acquire SEO and content services provider Titan.
GiG said the acquisition will significantly enhance its operational efficiency and market position, helping to reduce GiG Media’s SEO and content costs by up to 50 per cent.
Titan’s expertise is also expected to enhance the quality and turnaround time of GiG Media content and SEO services.
The acquisition comes with a term sheet valued at €3.2 million, structured with €1.0 million to be paid at closing, €1.0 million after twelve months, and €1.2 million after twenty-four months.
A final agreement is subject to due diligence and board approval, with closing expected in July.
“This acquisition highlights our ambition to continue optimising our value chain, revenue and EBITDA margin,” said GiG chief executive Jonas Warrer. “We will achieve substantial cost savings by integrating Titan’s SEO and content expertise while significantly enhancing our service quality.
“This move aligns with our strategy to solidify our leadership position in the online gambling market, demonstrating how we drive growth and efficiency.”
Titan is said to have generated revenue of €3.3 million and EBITDA of €0.72 million in 2023.
“We are thrilled to join forces with GiG Media,” said Titan co-CEO and co-founder Lee Tadd. “Our combined expertise will enable us to deliver exceptional value to our clients and stakeholders. We look forward to leveraging our strengths to drive innovation and excellence in SEO and content services.”
Shares in Gaming Innovation Group Inc (STO:GIGSEK) were trading 1.54 per cent lower at SEK28.85 per share in Stockholm Monday morning.