By SectorWire desk ·
GiG Software is considering raising €8.5m to acquire 888Africa. The acquisition would bring GiG back into B2C gambling after its shift towards B2B in 2023.
GiG’s proposed €8.5m fundraising would finance an acquisition returning it to B2C gambling after its 2023 B2B shift.
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The acquisition brings 888AFRICA into GiG and commits the buyer to €10.3m in further payments over 10 months.
GiG’s proposed 80% acquisition requires further approvals and definitive agreements, with founders retaining shares and management involvement.
GiG’s proposed majority acquisition of 888Africa still requires final approvals and a signed share purchase agreement.
PowerPlay’s approved launch makes it GiG’s fourth active Alberta brand, using GiG’s account management, sportsbook, rules and data systems.
GiG’s CFO expects the 888Africa acquisition to support its B2B pipeline, while analysts flag potential B2B headwinds.
GiG’s proposed acquisition would restore its B2C presence, with share issues and loans intended to help finance the transaction.