Gaming Innovation Group (GiG) has signed an agreement to acquire SEO and content services provider Titan.
GiG said the acquisition will significantly improve its operational efficiency and market position, and reduce GiG Media’s SEO and content costs by up to 50%.
Titan’s expertise is also expected to improve the quality and turnaround times of GiG Media’s content and SEO services.
The acquisition is accompanied by a term sheet worth €3.2 million, with €1 million to be paid upon closing, €1 million after 12 months and €1.2 million after 24 months.
The definitive agreement is subject to due diligence and board approval and is expected to close in July.
“This acquisition demonstrates our drive to continuously optimize our value chain, revenue and EBITDA margins,” said Jonas Waller, CEO of GiG. “By integrating Titan’s SEO and content expertise, we will realize significant cost savings while at the same time significantly improving the quality of our services.”
“This move is in line with our strategy to solidify our leadership position in the online gambling market and demonstrates how we are driving growth and efficiencies.”
Titan is said to generate revenue of €3.3 million and EBITDA of €72 million in 2023.
“We are excited to join forces with GiG Media,” said Lee Tadd, co-CEO and co-founder of Titan. “Our combined expertise will enable us to deliver exceptional value to our clients and stakeholders. We look forward to leveraging the strengths of both companies to drive innovation and excellence in SEO and content services.”
stock Gaming Innovation Group Inc. (STO:GIGSEK) On Monday morning in Stockholm, the stock was down 1.54% to trade at 28.85 Swedish kronor per share.