GIG: Gaming Innovation Group acquires affiliate network assets from Magenti Media
2016-03-30 08:18:45
Gaming Innovation Group Inc. (GIG) has agreed to acquire the affiliate assets from the Swedish based affiliate network company Magenti Media. Included in the acquisition are a four-figured number of referral sites, a highly experienced team of Search Engine Optimization (SEO) experts and recurring revenues from the existing portfolio of affiliate accounts with partnering operators. The affiliate network is mainly targeting the Swedish casino market, and the acquisition is further strengthening GIG as a leading lead generation company for the online gambling sector. The acquired assets complement the already existing affiliate operations in Innovation Labs, and through increased activity and synergies, GIG expects to increase operating profit by around EUR 1 million on a 12 months rolling basis from completion of the acquisition. After the acquisition, Innovation Labs expects to generate more than 45,000 New Depositing Customers (NDC's) to B2B clients and GIG's own operators on a yearly basis. GIG will pay a consideration of SEK 47.5 million, whereof SEK 32 million will be settled with new GIG shares based on the average share price the five trading days prior to closing. In addition, 1 million options will be issued to the employees at closing on terms to be defined. The acquisition is subject to a satisfactory due diligence, and is expected to be concluded in May 2016. "We are happy to conclude the acquisition of a growing, high value affiliate network which will enhance Innovation Labs' position in referring paying users in the Swedish casino market. In addition to the acquired assets, it is agreed to merge the talents of the companies, bringing in over 10 years of iGaming online marketing experience from Magenti Media. As we are building out our distribution channel for the top performing brands in the industry, we need the best people available to deliver even more quality online resources for end-users", says Robin Reed, CEO of GIG. GIG's subsidiary Innovation Labs is a fast growing online marketing company for iGaming. It refers paying users to B2B clients primarily on perpetual revenue share agreements. It sources these paying users by obtaining competitive rankings for high-value keywords in search engines through SEO (search engine optimization), generating traffic to owned websites. These websites have guides and quality content for the gaming industry and serves as paths to operators. Innovation Labs also refer paying users through data driven media buying techniques. For further information, contact: Robin Reed, CEO, +356 9999 0382, (Robin.Reed@guts.com) About GIG: Gaming Innovation Group Inc. is an emerging gambling solutions and interactive entertainment provider. The Group offers cutting-edge Cloud based Services and B2B Performance Marketing, and owns B2C gambling operators offering games from the best-of-breed suppliers across the online sports betting and casino industry. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol "GIG". For more information about the Group and our services: https://gaminginnovationgroup.com https://igamingcloud.com https://www.guts.com https://www.betspin.com https://www.rizk.com