OSLO, NORWAY: Gaming Innovation Group Inc. (GiG) has signed a head-of-terms agreement to acquire Titan Inc. Limited, a premier SEO and content services supplier.
The acquisition comes with a term sheet valued at EUR 3.2 million, structured with EUR 1.0 million to be paid at closing, EUR 1.0 million after twelve months, and EUR 1.2 million after twenty four months. A final agreement is subject to due diligence and board approval, and closing is expected in July 2024.
This strategic acquisition will significantly enhance Gaming Innovation Group’s operational efficiency and market position. In 2023, Titan Inc. Limited reported revenues of EUR 3.30 million with an EBITDA of EUR 0.72 million.
Jonas Warrer, CEO of GiG, said, “This acquisition highlights our ambition to continue optimising our value chain, revenue and EBITDA margin. 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.”
The anticipated cost savings and operational efficiencies underscore the strategic rationale for this acquisition. For operations moved to Titan, GiG Media’s SEO and content costs are expected to be reduced by up to 50%.
Furthermore, Titan’s expertise will enhance the quality and turnaround time of GiG Media content and SEO services, improving revenue in the GiG Media publishing business.
Titan’s co-CEO and co-founder Lee Tadd added, “We are thrilled to join forces with GiG Media. 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.”
Gaming Innovation Group is a leading iGaming technology company that provides solutions, products, and services to iGaming Operators. Founded in 2012, Gaming Innovation Group’s vision is ‘To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers. GiG’s mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the GIG ticker and on Nasdaq Stockholm under GIGSEK.
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