Oslo-listed Gaming Innovation Group (GIG) has expanded its affiliate network by acquiring Scandinavian media owner Stk Marketing Ltd for a total consideration of NOK 240 million (€26 million).
Updating investors, GIG governance stated that the acquisition will make GIG services the outright leader in Nordic industry player acquisition.
The acquisition of Stk Marketing assets is expected to generate + €7 million in group EBITDA for GIG within the first 12-months of completing the transaction. GIG governance has detailed that 70% of the EBITDA will be generated from existing Stk Marketing revenue share agreements.
Stk Marketing assets will now be integrated within GIG subsidiary Labs BI/Data proprietary systems & marketing platforms.
Commenting on the acquisition, Robin Reed GIG Group Chief Executive said;
“We have set an ambition for Innovation Labs to become the largest lead generation business in iGaming and we are well underway in realizing this. Furthermore, we have now established a leading position in the Nordic affiliate market. In line with previous acquisitions and GIG´s vision, the Stk acquisition will enable Innovation Labs to refer more customers to our B2B partners and thus benefit all parties engaged in the expanding GIG iGaming eco-system
Last February GIG governance moved to strengthen its M&A strategy by securing an SEK 400 million (circa £36 million) bond issuance through the Oslo Stock Exchange. The acquisition of Stk Marketing represents GIG’s fourth affiliate marketing transaction of 2017.
Source: SBC News
